Nigeria is rapidly emerging as Africa’s leading minerals hub, with the development of lithium processing and gold refining plants enhancing its role as a key global supplier of minerals critical for the transition to green energy.

Minister of Solid Minerals Development, Dr. Dele Alake, announced the country’s progress ahead of the Future Minerals Forum (FMF) in Riyadh, Saudi Arabia. According to Alake, a gold refinery is already operational in Lagos, three more are under development, and a $600 million lithium processing plant in Nasarawa State is ready for commissioning.

Highlighting Nigeria’s value-addition policy, Alake emphasized the country’s vast reserves of critical minerals and rare earth elements and its intent to forge mutually beneficial partnerships with Saudi Arabia in capacity building, technology transfer, exploration, and mining best practices.

The Minister stressed the importance of mineral traceability, ESG standards, and mine-pit remediation in attracting investor confidence, while his Saudi counterpart, Mr. Ibrahim Al-Khorayef, proposed formalizing the partnership through a draft MOU, to potentially be signed during the FMF. Both officials underscored Nigeria’s potential to leverage the forum to showcase investment opportunities in its mining sector.