WEC's Bala Wunti Advocates for Mineral Development in Nigeria

Bala Wunti, the Chief Executive Officer of World Energy Council Nigeria, called on the Federal Government to develop Nigeria's 44 critical minerals into factories and sustainable job opportunities. Speaking at the 2026 Concordia Annual Summit at the Sheraton New York Times Square, Wunti warned against repeating the crude oil export model, which has historically led to poverty.

He highlighted the need for Nigeria to move beyond merely exporting mineral tonnage and instead focus on domestic processing and manufacturing. Wunti identified the lack of reliable geological data and commercially structured projects as significant barriers to development.

He stated that attracting private capital requires clear, investable projects and enabling infrastructure. Wunti described the Nigerian Solid Minerals Company as a key investment platform aimed at transforming mineral resources into bankable projects.

He stressed the importance of presenting commercially viable transactions to investors and creating an environment that reduces investment risks.