President Bola Tinubu has appointed Martins Imonitie as the chief executive officer (CEO) of the Nigerian Mining Corporation.
The announcement was made by Dele Alake, the minister of solid minerals development, after a federal executive council (FEC) meeting presided over by Tinubu.
According to Alake, Imonitie is an experienced mining finance expert from Western Australia, a major global mining hub. He said the government “headhunted” him due to his extensive experience with top international players in the sector.
Regarding the corporation’s ownership structure, Alake explained that it was designed to minimise government interference. The private sector will control 50 percent of the corporation, while the federal government and Nigerian citizens will each hold 25 percent.
“This structure ensures that after us, no government can interfere or inject political manipulation into its operations,” Alake said.
Additionally, the minister clarified that the government has no plans to establish a Solid Minerals Development Bank. Instead, he urged private sector leaders to spearhead the creation of a specialised financial institution to support mining operations.
“I never announced that the government will establish a Solid Minerals Development Bank. I threw the challenge to the private sector because once you allow government to set it up, you invite political interference,” he said.
Alake emphasised that private sector ownership would ensure fair access to mining funds, free from favoritism or political influence.
