President Bola Tinubu has appointed Martins Imonitie as the Chief Executive Officer of the newly established Nigerian Mining Corporation. Announcing the decision after a Federal Executive Council (FEC) meeting, Minister of Solid Minerals Development, Dele Alake, described Imonitie as a mining finance expert with experience in Australia’s globally recognized mining industry.
According to Alake, the corporation is structured to limit government interference, with 50% owned by the private sector, 25% by the federal government, and the remaining 25% available to Nigerian citizens. The minister also clarified that the government has no plans to establish a Solid Minerals Development Bank, challenging private sector players to take the lead in financing the industry.
