By Ed Malik, A | ed@ddnewsonline.com | posted 5th March, 2025
President Bola Tinubu has appointed Martins Imonitie as the Chief Executive Officer (CEO) of the Nigerian Mining Corporation (NMC). The announcement was made by Dele Alake, the Minister of Solid Minerals Development, during a briefing with State House correspondents following a Federal Executive Council (FEC) meeting presided over by President Tinubu.
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Imonitie is a mining finance expert from Western Australia, a region renowned for its robust mining industry. Alake noted that Imonitie was “headhunted” due to his extensive experience with major global players in the sector, and he is expected to lead the new initiative effectively.
The minister,speaking on the appointment said, “We headhunted him from Western Australia, one of the biggest mining regions in the world. He has experience working with major global players, and he will drive this new initiative,” Alake said.
The NMC’s ownership structure is designed to minimize government interference and ensure sustainability. The equity distribution is as follows:
Private Sector: 50%
Federal Government: 25%
Nigerian Citizens: 25%
This structure aims to prevent political manipulation in the corporation’s operations.
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Additionally, the Federal Government has clarified that it does not plan to establish a Solid Minerals Development Bank. Instead, the private sector is encouraged to lead the creation of specialized financial institutions to support mining operations, thereby avoiding potential political interference and ensuring efficient management.
These developments are part of the government’s ongoing efforts to reform Nigeria’s mining sector and attract international expertise to strengthen local operations.
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