Nigeria is rapidly positioning itself as a major minerals hub in Africa, with new initiatives in gold refining and lithium processing aimed at boosting its role in the global green energy transition, the Minister of Solid Minerals Development, Dr. Dele Alake, announced on Tuesday.
Dr. Alake disclosed during a meeting with Saudi Arabia’s Minister of Industry and Mineral Resources, Ibrahim Al-Khorayef, ahead of the Future Minerals Forum (FMF) in Riyadh.
NEW FACILITIES AND DEVELOPMENTS
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A high-purity gold refinery is now operational in Lagos
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Three additional gold refineries are under development
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A $600 million lithium processing plant in Nasarawa State is ready for commissioning
“Nigeria’s value-addition policy is already producing concrete outcomes,” Dr. Alake said, highlighting the country’s growing capabilities in solid minerals development.
The minister stressed that these developments position Nigeria as a key global partner in critical minerals, including rare earth elements essential for the green energy transition.
COLLABORATION WITH SAUDI ARABIA
Dr. Alake highlighted Nigeria’s interest in deepening cooperation with Saudi Arabia, focusing on:
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Capacity building and training of mining professionals
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Technology transfer
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Exploration and development partnerships
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Environmental, Social, and Governance (ESG) standards, including mine-pit remediation and mineral traceability
“There are areas where Saudi Arabia excels and others where Nigeria has advantages. We are keen to structure agreements that foster meaningful and constructive engagement,” he said.
The minister also noted that a joint working group with the Saudi Chamber of Commerce had prepared a report over the past year, which is expected to be presented during the forum.
In response, Minister Al-Khorayef reaffirmed Saudi Arabia’s commitment to longstanding partnerships with Nigeria, emphasising the need for actionable agreements and encouraging Nigeria to showcase investment opportunities to Saudi investors.
STRATEGIC OBJECTIVE
Both ministers highlighted the importance of partnerships grounded in fairness, equity, and mutual benefit, with Nigeria leveraging Saudi expertise in advanced mining technologies to enhance production, efficiency, and global competitiveness.
