By Chinedu Okorie
Nigeria is fast positioning itself as Africa’s leading minerals hub, with new lithium processing and gold refining plants reinforcing its role as a critical global partner in the transition to green energy.
The Minister of Solid Minerals Development, Dr. Dele Alake, disclosed this during a meeting with Saudi Arabia’s Minister of Industry and Mineral Resources, Mr. Ibrahim Al-Khorayef, ahead of the Future Minerals Forum (FMF) in Riyadh.
According to a statement from the Minister’s office, Nigeria’s value-addition policy is already yielding results. A gold refinery has been established in Lagos, three additional refineries are under development, and a $600 million lithium processing plant in Nasarawa State is set for commissioning.
Dr. Alake praised Saudi Arabia’s role in fostering collaboration across Africa, the Middle East, Asia, and Europe through the FMF. He emphasized Nigeria’s eagerness to deepen ties with the Kingdom, particularly in areas such as capacity building, training of mining professionals, technology transfer, and exploration.
“Nigeria is endowed with abundant critical minerals and rare earth elements vital to the global economy. Through the FMF platform, we aim to build partnerships anchored on fairness, equity, and mutual benefit,” Alake stated.
He highlighted mineral traceability, Environmental, Social and Governance (ESG) standards, and mine-pit remediation as priority areas for cooperation, stressing that traceability enhances investor confidence and should be central to any agreement.
Minister Al-Khorayef reaffirmed Nigeria’s status as a longstanding ally of Saudi Arabia and proposed the development of a draft Memorandum of Understanding (MOU) for signing during the conference. He also encouraged Nigeria to showcase its mining investment opportunities to Saudi investors and urged African nations to adopt advanced technologies in mineral development.
With these initiatives, Nigeria is set to strengthen its role as a continental leader in mineral supply and a key player in the global green energy transition.
