A $600 million lithium processing facility in Nasarawa State is prepared for commissioning, and the Federal Government has declared the start of operations at a high-purity gold refining facility in Lagos State. Three more gold refineries are in various stages of development throughout the nation. Dele Alake, the Minister of Solid Minerals Development, revealed this on Tuesday. He claimed that the projects represented concrete results of the government's value-addition policy in the mining industry and were re-establishing Nigeria as Africa's premier mineral hub and a key international partner in vital minerals for the shift to green energy. Prior to the Future Minerals Forum in Riyadh, Saudi Arabia, Alake had a meeting with Mr. Ibrahim Al-Khorayef, the Saudi Minister of Industry and Mineral Resources.
According to a statement from Segun Tomori, the minister's special assistant on media, the engagement concentrated on strengthening bilateral collaboration in the development of solid minerals and turning earlier conversations into practical results.
Alake claims that the Federal Government's resolve to shift Nigeria from exporting raw minerals to in-country processing and beneficiation is demonstrated by the operating Lagos refinery and the upcoming lithium processing facility.
“Nigeria’s value-addition policy is already yielding tangible results, with a gold refining plant of very high purity now operational in Lagos, three additional gold refineries at various stages of development, and a $600 million lithium processing plant in Nasarawa State ready for commissioning,” the minister said.
He stated that Nigeria was keen to deepen its relationship with Saudi Arabia by utilizing areas of comparative advantage, especially in exploration, technology transfer, capacity building, and mining professional training.
The minister emphasized that the Future Minerals Forum platform should be utilized to fine-tune relationships based on justice, equity, and mutual benefit while highlighting Nigeria's large landmass and availability of vital minerals and rare earth elements needed by the global economy.
Alake revealed that a joint working committee made up of officials from Nigeria and the Saudi Chamber of Commerce had been busy over the past year and will give its findings before the end of the current forum, recalling follow-up interactions following the 2025 edition of the forum.
He listed mine-pit remediation, environmental, social, and governance standards, and mineral traceability as top areas for cooperation. He pointed out that traceability in particular increases investor confidence and should be at the heart of any partnership, along with precise deadlines and strong monitoring and evaluation systems.
In his speech, Minister Al-Khorayef reiterated Nigeria's stance as Saudi Arabia's historic ally and acknowledged the necessity of a workable deal on the development of solid minerals. He suggested that the working group create a draft MOU based on prior agreements for potential conference-side signing.
The Saudi minister also encouraged African nations to use cutting-edge technologies in mining development, pointing out that Nigeria could profit from Saudi Arabia's advancements in this field, and urged Nigeria to use the FMF platform to present investment opportunities in its mining sector to Saudi investors.
Through incentives, better regulations, and a renewed drive for domestic solid mineral processing, Nigeria has recently stepped up efforts to modernise its mining industry, stop illicit mining, and draw investment.
In light of the growing global need for battery and clean energy inputs, the government sees lithium, gold, and other essential minerals as essential to diversifying the economy and bolstering global energy transition value chains.
