The Minister of Solid Minerals Development, Dele Alake, has called for the establishment of regional energy hubs across Africa as a key strategy to drive mining industrialisation and strengthen supply chains for critical minerals.
Alake made the call while speaking at a high-level panel titled “Critical Minerals in Africa: Meeting Global Demand” at the Powering Africa Summit in Washington, D.C..
He stressed that sustainable partnerships between Africa and global stakeholders remain essential to meeting the rising global demand for critical minerals needed for the energy transition.
The minister advocated the development of regional industrial corridors similar to the Lobito Corridor, noting that initiatives such as the Lagos–Abidjan Corridor and the Walvis Bay Corridor could unlock Africa’s vast mineral resources.
According to him, such corridors would accelerate infrastructure development, improve energy access and deepen regional economic integration.
He added that shared energy systems, including nuclear power, could support multiple countries within a corridor, enabling local beneficiation, technology transfer, manufacturing and cross-border industrialisation.
“If three to five such corridors are developed in Africa, we would significantly advance industrialisation across the continent, creating a win-win outcome for both Africa and the West,” he said.
Alake also highlighted ongoing reforms under President Bola Ahmed Tinubu, noting that improved governance, regulatory frameworks, digitised licensing processes and ease-of-doing-business measures have repositioned Nigeria’s mining sector.
He said the reforms now guarantee secure tenure for mineral title holders, providing the stability needed for long-term investments.
The minister further disclosed that the government is expanding the availability of certified geological data to guide investors, while also addressing security challenges through the deployment of Mining Marshals.
He revealed that more than 350 suspected illegal miners, including foreign nationals, have been arrested within the past year, with over 150 currently facing prosecution.
Alake reaffirmed Nigeria’s commitment to attracting genuine investors, stressing compliance with local laws while offering incentives such as tax waivers on mining equipment and full repatriation of profits after due payments.
He added that Nigeria has attracted over $2.6 billion in foreign direct investment into the mining sector in the last two and a half years.
In her remarks, Sarah Whitten of the U.S. Export-Import Bank emphasised the importance of sustained government commitment and policy continuity in driving investment in the mining sector.
She noted that while American banks are ready to support projects, their role is largely to catalyse private sector funding for critical minerals development.
Other panelists included Guinea’s Energy Minister Sekou Camara, Denham Capital’s Carl Tricoli, ReElement Technologies Africa CEO Ben Kinkaid, TechMet’s Heliana Matza, and McDermott Will & Schulte partner Jahan Khandokar.