Editor’s Note
Nigeria is advancing its strategy to become a major player in the global minerals market. This week, the federal government inaugurated a new high-purity gold refinery in Lagos, with three more in development. Additionally, a major lithium processing plant is set to open. These projects represent a significant push to add value to the nation’s mineral resources domestically.
The federal government has launched operations at a state-of-the-art high-purity gold refining plant in Lagos, marking a significant step forward in the mineral processing industry. Three additional gold refineries are at various stages of development nationwide, the government announced.
This is a $600 million lithium processing plant in Nasarawa State that stands ready for commissioning, poised to bolster Nigeria’s critical minerals sector.
The minister of Solid Minerals Development, Dr Dele Alake, who made these known, also affirmed that the establishment of lithium processing and gold refining plants across Nigeria is positioning the country as Africa’s leading minerals hub and a critical global partner in minerals essential for the transition to green energy.
Dr Alake made this assertion at a meeting with the Saudi Arabian Minister of Industry and Mineral Resources, Mr Ibrahim Al-Khorayef, ahead of the Future Minerals Forum (FMF) in Riyadh, Saudi Arabia.
According to a statement by his Special Assistant on Media, Segun Tomori, on Tuesday, Dr Alake said Nigeria’s value-addition policy was already yielding tangible results, with a high-purity gold refining plant 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, the statement said, commended Saudi Arabia for its pivotal role in expanding opportunities for collaboration among governments across Africa, the Middle East, Asia and Europe through the Future Minerals Forum, stressing that Nigeria is eager to deepen its partnership with the Kingdom by leveraging areas of comparative advantage in solid minerals development.
He further noted that Nigeria’s vast landmass is endowed with abundant critical minerals and rare earth elements required by the global economy, underscoring the importance of leveraging the Future Minerals Forum platform to fine-tune actionable partnerships based on fairness, equity and mutual benefit.
Alake recalled engagements following the FMF 2025 and revealed that a joint working group comprising the Nigerian delegation and the Saudi Chamber of Commerce had been active over the past year, adding that its report is ready and will be presented before the close of the current forum.
The Minister also highlighted mineral traceability, Environmental, Social, and Governance (ESG) standards, and mine-pit remediation as priority areas that require collaboration. He emphasised that mineral traceability boosts investor confidence and should form a core component of any partnership, alongside clear implementation timelines and robust monitoring and evaluation mechanisms.
In his remarks, Minister Al-Khorayef reaffirmed Nigeria’s status as a longstanding ally of Saudi Arabia and agreed on the need for a practical and actionable agreement on the development of solid minerals. He proposed that the working group develop a draft Memorandum of Understanding (MoU) based on previous engagements, with the possibility of signing it on the sidelines of the conference.