- FG launched operations at a high-purity gold refinery in Lagos and prepared a $600 million lithium processing plant for commissioning.
- Nigeria pursued minerals cooperation with Saudi Arabia to boost capacity, technology transfer and investment.
The Federal Government (FG) has begun operations at a high-purity gold refinery in Lagos as part of efforts to expand in-country mineral processing and reduce raw mineral exports. Three additional gold refineries are at various stages of development, while a $600 million lithium processing plant in Nasarawa State is nearing commissioning.
Minister of Solid Minerals Development Dele Alake said the projects mark early results from the government’s value-addition policy in mining. This aims to position Nigeria as a competitive minerals hub and a credible supplier of critical minerals for the global energy transition.
He made the remarks during a meeting with Saudi Industry and Mineral Resources Minister Ibrahim Al-Khorayef ahead of the Future Minerals Forum in Riyadh. Additionally, the discussions focused on advancing bilateral cooperation in the solid minerals sector and converting previous engagements into actionable agreements.
The government also intends to shift the sector from raw exports toward domestic beneficiation and manufacturing. Alake said the Lagos refinery and the lithium facility demonstrate that the strategy is gaining traction and improving investor confidence.
Nigeria is seeking cooperation with Saudi Arabia in technology transfer, exploration, skills training and mining capacity development. Alake also highlighted the country’s deposits of critical minerals and rare earth elements. He urged that future partnerships reflect fairness and mutual benefit.
A joint working group between Nigeria and the Saudi Chamber of Commerce has been engaging over the past year and will present its recommendations before the forum concludes. Alake identified mineral traceability, ESG compliance and mine rehabilitation as priority areas for collaboration. He noted that traceability strengthens investor confidence and supports responsible sourcing standards.
Al-Khorayef described Nigeria as a longstanding partner and called for practical agreements on solid minerals. He proposed that both countries consider signing a draft memorandum of understanding on the sidelines of the forum.
Nigeria has increased reforms and enforcement in the mining sector to attract investment and curb illegal extraction. The government views lithium as crucial to its economic diversification efforts and to integration into global clean energy value chains.