Wunti Advocates $110/kg Price Floor for Nigeria's Minerals

Bala Wunti, the chief executive officer of World Energy Council Nigeria, asserted that implementing a price floor of $110 per kilogram for certain rare earth products could provide the commercial certainty needed to attract private investment into Nigeria's critical minerals sector. He made these remarks during a panel discussion titled "Rare Currency: Critical Minerals in a Shifting Global" at the 2026 Concordia Annual Summit in New York.

Wunti, who previously served as the chief upstream investment officer at the Nigerian National Petroleum Company Limited, highlighted the disconnect between Nigeria's mineral potential and investable projects. He identified six essential conditions for mobilizing capital: reliable geological data, clearly defined projects, enabling infrastructure, predictable regulation, credible developers, and viable routes to market.

Wunti also emphasized the importance of the Nigerian Solid Minerals Company as a key investment platform. He explained that a guaranteed minimum purchase price would mitigate risks for investors, making financing more feasible for mining and processing projects.