‘Over $2.6b FDI attracted in two years’
Minister of Solid Minerals Development, Dele ATinubu’s reforms driving growth in Nigeria’s mining sector, says Alake, has charged the United States of America and African nations to prioritise the establishment of regional energy hubs.

He said such hubs would form a strategic pathway to accelerate cross-border mining industrialisation and strengthen the supply chain of critical minerals essential for global energy transition.

Speaking at a high-level panel themed “Critical Minerals in Africa: Meeting Global Demand” at the ongoing Powering Africa Summit in Washington, D.C., United States, Alake emphasised that sustainable partnerships with Africa remained the fastest route to meeting rising global demand for critical minerals.

He called for the development of regional industrial corridors akin to the Lobito Corridor, noting that similar belts, such as the Lagos–Abidjan corridor, spanning Nigeria, Benin, Togo, Ghana, and Côte d’Ivoire, as well as the Walvis Bay Corridor linking Southern and Central Africa to global markets, could unlock vast mineral potential across the continent.

According to the minister, such corridors would serve as economic catalysts by driving infrastructure development, enhancing energy access, and promoting regional integration.

Highlighting the impact of reforms under the administration of President Bola Tinubu, Alake noted that strengthened governance structures, improved regulatory frameworks, digitisation of licensing processes, and enhanced ease of doing business had repositioned Nigeria’s mining sector as a key driver of economic diversification.

He explained that reforms introduced in the last two and a half years now guarantee mineral title holders secure tenure, thereby providing the long-term stability required for investment decisions.

In her remarks, Senior Vice President and Global Head of Origination at the U.S. Export-Import Bank (EXIM), Sarah Whitten, noted that the mining sector required successful collaborations contingent on the commitment of participating governments and the sustainability of agreements beyond political cycles.

Aside from Alake, the panel session featured Guinean Minister of Energy, Sekou Camara; Managing Partner, Denham Capital, Carl Tricoli; CEO, ReElement Technologies Africa, Ben Kinkaid; Senior Vice-President, Global Head of Origination, US Export-Import Bank (EXIM), Sarah Whitten; Chief Strategic Development Officer, TechMet, Heliana Matza and Partner, McDermott Will & Schulte, Jahan Khandokar.