Wunti to World Leaders: No Country Can Build Energy Security Alone
The Chief Executive Officer of World Energy Council Nigeria, Mr. Bala Wunti, has warned that the United States and its allies cannot build credible defence systems, reliable electricity grids and
World Energy Council Nigeria's CEO, Bala Wunti, cautioned at the 2026 Concordia Annual Summit that the U.S. and its allies cannot develop robust defense systems, stable power grids, and AI without relying on a single country for key minerals. The summit, attended by global leaders from over 100 countries, discussed America's reliance on imported critical minerals and China's dominance in processing them.
Wunti, who served at the Nigerian National Petroleum Company, highlighted the urgency for action to close the supply gap, noting that domestic production takes decades while allies are essential. He emphasized that the global energy economy is shifting from oil measured in barrels to strategic minerals measured in kilograms, with a single aircraft or submarine requiring vast amounts of rare earth elements, graphite, or cobalt.
China's control over processing and refining these minerals poses a significant strategic vulnerability. Wunti pointed to six conditions necessary for mobilizing capital for these projects, including reliable geological data, defined projects, enabling infrastructure, predictable regulation, credible developers, and viable routes to market.
He commended the U.S. for its recent actions, such as Executive Order 14241 and export controls, which could reshape the critical minerals market. However, he stressed that private capital must primarily fund these projects, with government providing only investment readiness through addressing key risks.
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