Nigeria is fast rising as Africa’s minerals supply hub with the take-off of lithium processing and gold refining plants across the country, the Minister of Solid Minerals Development, Dr. Dele Alake, has declared.
Alake made the bold assertion during talks with Saudi Arabia’s Minister of Industry and Mineral Resources, Mr. Ibrahim Al-Khorayef, ahead of the Future Minerals Forum (FMF) in Riyadh.
He revealed that Nigeria’s drive for value addition is already paying off, with a high-purity gold refinery now operating in Lagos, three more gold refineries nearing completion, and a $600 million lithium processing plant in Nasarawa State set for commissioning.
According to him, these projects are positioning Nigeria as a key global player in minerals critical for the green energy transition.
The minister praised Saudi Arabia for using the FMF to foster partnerships across Africa, the Middle East, Asia and Europe, stressing that Nigeria is eager to deepen cooperation with the Kingdom in solid minerals development.
“We want structured partnerships that will deliver capacity building, training, technology transfer and advanced exploration. Saudi Arabia has expertise in some areas, while Nigeria has strong advantages in others,” Alake said.
He noted that Nigeria’s vast landmass is richly endowed with critical minerals and rare earth elements needed by the global economy, adding that partnerships must be based on fairness, equity and mutual benefit.
Alake also disclosed that a joint working group involving Nigeria and the Saudi Chamber of Commerce, set up after FMF 2025, has been active over the past year and will present its report at the current forum.
He identified mineral traceability, Environmental, Social and Governance (ESG) standards and mine-pit remediation as key areas for collaboration, stressing that traceability boosts investor confidence.
In his response, Al-Khorayef reaffirmed Nigeria as a trusted ally of Saudi Arabia and called for a practical, result-driven agreement on solid minerals development. He proposed the drafting of a Memorandum of Understanding (MoU) for possible signing on the sidelines of the forum.
The Saudi minister also urged Nigeria to showcase its mining investment opportunities to Saudi investors, noting that the country could benefit from Saudi Arabia’s advanced mining technologies.
