The Federal Government has announced the launch of a high-purity gold refinery in Lagos and is preparing to commission a $600 million lithium processing plant in Nasarawa State, as part of efforts to position Nigeria as a major minerals hub in Africa.
The Minister of Solid Minerals Development, Dr Dele Alake, disclosed this on Tuesday during 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 Alake, the establishment of lithium processing and gold refining facilities across the country is already yielding tangible results under Nigeria’s value-addition policy. He said the Lagos gold refinery is fully operational, while three other refineries are at different stages of development nationwide.
He added that the lithium processing plant in Nasarawa State, valued at $600 million, is ready for commissioning, noting that such projects are strengthening Nigeria’s role as a global partner in the supply of minerals critical to the green energy transition.
Alake commended Saudi Arabia for fostering collaboration among countries across Africa, the Middle East, Asia and Europe through the FMF, and expressed Nigeria’s willingness to deepen cooperation with the Kingdom in the solid minerals sector.
“There are areas where Saudi Arabia excels and others where Nigeria has comparative advantages,” the minister said, stressing the need for structured agreements focused on capacity building, training, technology transfer and mineral exploration.
He also highlighted Nigeria’s vast deposits of critical minerals and rare earth elements, underscoring the importance of using the FMF platform to build partnerships based on fairness, equity and mutual benefit.
Reflecting on engagements since the 2025 FMF, Alake revealed that a joint working group involving Nigerian officials and the Saudi Chamber of Commerce has been active over the past year, with its report ready for presentation before the end of the current forum.
The minister further called for cooperation on mineral traceability, Environmental, Social and Governance (ESG) standards, and mine-pit remediation, noting that these measures are essential for boosting investor confidence and ensuring sustainable mining practices.
In his response, Al-Khorayef reaffirmed Saudi Arabia’s commitment to its partnership with Nigeria and proposed the drafting of a memorandum of understanding on solid minerals development, with the aim of signing it on the sidelines of the FMF.
He also urged Nigeria to showcase investment opportunities in its mining sector to Saudi investors and encouraged African countries to adopt advanced mining technologies, noting that Nigeria stands to benefit from Saudi Arabia’s experience in the sector.
