Nigeria to become Africa’s mineral hub, set to establish gold, lithium plants nationwide

.Nigeria, UAE to host joint investment confab in Lagos — Tinubu

 

CYRIL MBAH, Abuja

Nigeria is poised to become Africa’s leading minerals hub, with the establishment of lithium processing and gold refining plants across the country, Minister of Solid Minerals Development, Dr. Dele Alake, has revealed.

Speaking at a meeting with the Saudi Arabian Minister of Industry and Mineral Resources, Mr. Ibrahim Al-Khorayef, on Tuesday ahead of the Future Minerals Forum (FMF) in Riyadh, Saudi Arabia, Alake highlighted Nigeria’s value-addition policy, which has already yielded tangible results.

Some of the projects already established, he said, includes a gold refining plant in Lagos and a $600 million lithium processing plant in Nasarawa State ready for commissioning and to start production this year.

Alake emphasized Nigeria’s eagerness to partner with Saudi Arabia, leveraging areas of comparative advantage in solid minerals development, capacity building, and technology transfer.

The Minister also stressed the importance of mineral traceability, Environmental, Social and Governance standards, and mine-pit remediation.

The meeting aims to deepen cooperation between Nigeria and Saudi Arabia, with plans to sign a Memorandum of Understanding on solid minerals development.

Alake invited Saudi investors to explore opportunities in Nigeria’s mining sector, showcasing the country’s potential as a key player in the global green energy transition.

He 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.

He also stressed that Nigeria is eager to deepen its partnership with the Kingdom by leveraging on areas of comparative advantage in solid minerals development.

“There are areas of comparative advantage where Saudi Arabia excels and others where Nigeria has strengths.

 We are keen on structuring agreements that will enable us engage meaningfully and constructively.

“Priority areas include capacity building, training of mining professionals, technology transfer, and particularly exploration, where Saudi Arabia has demonstrated some expertise,” Dr. Alake stated.

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 FMF platform to fine-tune actionable partnerships based on fairness  equity and mutual benefit.

Recalling engagements following the FMF 2025, Dr. Alake revealed that a joint working group comprising the Nigerian delegation and the Saudi Chamber of Commerce has 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 standards (ESG),and mine-pit remediation as priority areas requiring collaboration and he emphasized 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 solid minerals development and thereafter proposed that the working group develop a draft MOU based on previous engagements for possible signing on the sidelines of the conference.

He also urged Nigeria to leverage the FMF platform to showcase investment opportunities in its mining sector to Saudi investors, while encouraging African countries to adopt advanced technologies in mining development, noting that Nigeria could benefit from Saudi Arabia’s progress in this area.

 

.Nigeria, UAE to host joint investment confab in Lagos — Tinubu

 

President Bola Tinubu says Nigeria will co-host Investopia with the United Arab Emirates in Lagos in February to attract global investors and boost sustainable investment inflows.

 

Tinubu announced this on Tuesday at the 2026 Abu Dhabi Sustainability Week (ADSW).

 

He spoke on the sidelines of Nigeria’s conclusion of a Comprehensive Economic Partnership Agreement (CEPA) with the UAE.

 

This is contained in a statement issued by Presidential spokesperson, Mr Bayo Onanuga, on Tuesday in Abu Dhabi.

 

The CEPA is aimed at deepening cooperation in renewable energy, infrastructure, logistics and digital trade.

 

Those present at the signing included Tinubu, UAE President Mohammed bin Zayed Al Nahyan and Nigeria’s Trade Minister, Dr Jumoke Oduwole.

 

Also present was the UAE Minister of Foreign Trade, Dr Thani bin Ahmed Al Zeyoudi.

 

Tinubu described the CEPA as a historic and strategic agreement with broad benefits for both countries.

 

He said it would strengthen cooperation in aviation, logistics, agriculture and climate-smart infrastructure.

 

The president said Investopia would convene investors, innovators, policymakers and business leaders in Lagos.

 

He said the platform would convert opportunities into commitments and ideas into concrete investments.

 

“We warmly invite our partners to help build sustainable and shared prosperity for Nigeria, Africa and the world,” Tinubu said.

 

He said Nigeria aims to mobilise up to 30 billion dollars annually in climate and green industrial finance.

 

Tinubu noted that electricity remains the foundation of every modern economy, highlighting efforts to balance industrialisation with decarbonisation as a Global South economy.

 

The president called for reforms in global finance to ease access for developing countries, while urging shift from sovereign guarantees to blended finance and first-loss capital mechanisms.

 

Tinubu said Nigeria has strengthened climate governance through a National Carbon Market Activation Policy, adding that a National Carbon Registry was launched to enhance transparency and investor confidence.

 

The president said the Electricity Act 2023 supports decentralised power generation for underserved communities, stressing that Nigeria recently launched a 500-million-dollar renewable energy fund backed by the NSIA.

 

Tinubu added that a 750-million-dollar World Bank programme would expand clean power access to 17.5 million Nigerians.

 

He reaffirmed Nigeria’s commitment to net-zero emissions by 2060 under its Energy Transition Plan.

 

The president invited investors to Nigeria’s lithium and critical minerals sector, with emphasis on local value addition.

 

He said ongoing reforms have delivered a 21 per cent growth in non-oil exports.

He said Nigeria now has over 50 billion dollars in investment commitments across key sectors.

 

”We are ready to work with partners across the world to ensure that the next era of development is not only green and inclusive, but just and enduring,”Tinubu said.