The Federal Government has commenced operations at a high-purity gold refining plant in Lagos. Meanwhile, three additional gold refineries are under development across the country. Also, a $600 million lithium processing plant in Nasarawa State is ready for commissioning.
The Minister of Solid Minerals Development, Dele Alake, disclosed this on Tuesday. He described the projects as concrete outcomes of the government’s value-addition policy in the mining sector. Moreover, he said the initiatives are repositioning Nigeria as Africa’s leading minerals hub and a strategic global partner in the supply of critical minerals required for the green energy transition.
Alake spoke during a meeting with Saudi Arabia’s Minister of Industry and Mineral Resources, Ibrahim Al-Khorayef. The meeting was held ahead of the Future Minerals Forum in Riyadh. According to a statement by the minister’s Special Assistant on Media, Segun Tomori, the meeting focused on deepening bilateral cooperation. Another focus was converting previous engagements into measurable outcomes.
Refinery to Scale up Local Processing of Fine Metals
The minister said the operational Lagos gold refinery and the imminent lithium processing facility demonstrate the government’s resolve. The aim is to end Nigeria’s long-standing dependence on exporting raw minerals. Instead, emphasis is on local processing and beneficiation.
“Nigeria’s value-addition policy is already yielding tangible results. A gold refining plant of very high purity is now operational in Lagos. Additionally, three additional gold refineries are at various stages of development. A $600 million lithium processing plant in Nasarawa State is also ready for commissioning,” Alake said.
He added that Nigeria is seeking to strengthen its partnership with Saudi Arabia by leveraging areas of comparative advantage, particularly in capacity building, professional training, technology transfer and mineral exploration.
“There are areas where Saudi Arabia excels, and others where Nigeria has strengths. We are keen on structuring agreements. These agreements should allow for meaningful and constructive engagement, especially in exploration, where Saudi Arabia has demonstrated expertise,” the minister said.
Alake also highlighted Nigeria’s vast landmass and endowment of critical minerals and rare earth elements. He stressed that partnerships emerging from the Future Minerals Forum must be anchored on fairness, equity, and mutual benefit.
He disclosed that a joint working group involving officials from Nigeria and the Saudi Chamber of Commerce has been active over the past year. This group is expected to submit its report before the close of the current forum. Priority areas identified for collaboration include mineral traceability, governance standards, and mine-pit remediation. Importantly, traceability is seen as key to boosting investor confidence.
