The Federal Government has announced the commencement of operations at a high-purity gold refining plant in Lagos, alongside plans to commission a $600 million lithium processing facility in Nasarawa State, as part of efforts to deepen value addition in Nigeria’s mining sector.
The Minister of Solid Minerals Development, Dr. Dele Alake, disclosed this on Tuesday, noting that three additional gold refineries are currently at various stages of development across the country. He said the projects represent concrete outcomes of the government’s value-addition policy and are repositioning Nigeria as Africa’s leading minerals hub and a strategic global partner in critical minerals for the green energy transition.
Alake made the disclosure during a meeting with Saudi Arabia’s Minister of Industry and Mineral Resources, Mr. Ibrahim Al-Khorayef, held ahead of the Future Minerals Forum in Riyadh, Saudi Arabia.
A statement issued by the minister’s Special Assistant on Media, Segun Tomori, said the meeting focused on deepening bilateral cooperation in solid minerals development and converting previous engagements into measurable outcomes.
According to Alake, the operational Lagos gold refinery and the imminent commissioning of the lithium processing plant demonstrate the Federal Government’s resolve to shift Nigeria away from the export of raw minerals towards in-country processing and beneficiation.
“Nigeria’s value-addition policy is already yielding tangible results, with a gold refining plant of very high purity now operational in Lagos, three additional gold refineries at various stages of development, and a $600 million lithium processing plant in Nasarawa State ready for commissioning,” the minister said.
He expressed Nigeria’s interest in strengthening cooperation 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 that will enable meaningful and constructive engagement. Priority areas include capacity building, training of mining professionals, technology transfer, and exploration, where Saudi Arabia has demonstrated expertise,” Alake added.
The minister further highlighted Nigeria’s vast landmass and rich endowment of critical minerals and rare earth elements essential to the global economy, urging that the Future Minerals Forum be utilised to refine partnerships anchored on fairness, equity, and mutual benefit.
Recalling follow-up engagements after the 2025 edition of the forum, Alake revealed that a joint working group comprising officials from Nigeria and the Saudi Chamber of Commerce has been active over the past year and is expected to submit its report before the conclusion of the current forum.
He identified mineral traceability, Environmental, Social and Governance (ESG) standards, and mine-pit remediation as priority areas for collaboration, stressing that traceability, in particular, enhances investor confidence and should form a core component of any partnership, supported by clear timelines and robust monitoring and evaluation mechanisms.
