The Nigerian government has announced the commencement of operations at a high-purity gold refinery in Lagos, alongside progress on three additional gold refining facilities across the country and a $600 million lithium processing plant in Nasarawa State set for commissioning.
The Minister of Solid Minerals Development, Dr. Dele Alake, disclosed this during a meeting with Saudi Arabia’s Minister of Industry and Mineral Resources, Ibrahim Al-Khorayef, ahead of the Future Minerals Forum in Riyadh.
He described the projects as concrete outcomes of Nigeria’s value-addition policy in the mining sector and a significant step toward positioning the country as a leading minerals hub in Africa.
According to Alake, the Lagos refinery and the upcoming lithium processing facility reflect the government’s determination to shift away from exporting raw minerals in favour of local processing and beneficiation.
He said these efforts are designed to strengthen Nigeria’s role in global supply chains, particularly for minerals critical to the green energy transition.
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A statement issued by the minister’s media aide, Segun Tomori, said discussions with Saudi officials focused on translating previous engagements into practical cooperation in solid minerals development.
Alake noted that Nigeria was keen to deepen collaboration with Saudi Arabia in areas such as capacity building, training of mining professionals, technology transfer and mineral exploration.
He also highlighted Nigeria’s vast landmass and abundance of critical and rare earth minerals, stressing the importance of building partnerships anchored on fairness, transparency and mutual benefit.
He added that a joint working group comprising Nigerian officials and representatives of the Saudi Chamber of Commerce had been active over the past year and was expected to submit its report before the close of the forum.
Key areas identified for collaboration include mineral traceability, Environmental, Social and Governance standards, and mine-pit remediation. Alake said improved traceability would enhance investor confidence and should be central to future agreements, supported by clear timelines and strong monitoring mechanisms.
In his remarks, Al-Khorayef reaffirmed Nigeria’s status as a strategic partner of Saudi Arabia and supported the development of a practical memorandum of understanding on solid minerals cooperation.
He encouraged Nigeria to use the Future Minerals Forum to showcase investment opportunities in its mining sector and noted that advanced mining technologies adopted by Saudi Arabia could offer valuable lessons.
Nigeria has intensified reforms in its mining sector in recent years, targeting illegal mining while seeking to attract investment through improved regulation, incentives and a renewed push for local processing.
The government sees lithium, gold and other critical minerals as central to economic diversification and the global clean-energy value chain amid growing demand worldwide.
