Nigeria’s solid minerals sector is quietly undergoing a significant transformation, shifting from the sidelines to gaining global investor confidence and redefining the country’s place in the international mining industry.
Under President Bola Tinubu’s leadership, Nigeria has secured over $800 million in foreign processing investments in 2025 alone, according to Solid Minerals Development Minister Dr Dele Alake. These investments signal more than financial growth—they represent a strategic shift from exporting raw materials to fostering a value-added, domestically integrated mining economy.
A central component of this reform is a strong commitment to local beneficiation, ensuring that no mining license is granted without a clear plan for domestic processing. Already, major projects such as a $600 million lithium processing facility near Kaduna and a $200 million refinery in Abuja are nearing completion. The ministry’s reports indicate a remarkable increase in sector revenue, from ₦6 billion in 2023 to ₦38 billion in 2024, despite only a portion of its allocated budget being utilized. Alake attributes this growth to strategic policy alignment, enhanced data investment, and the integration of artisanal miners into over 250 cooperatives nationwide.
Beyond its borders, Nigeria is asserting its influence by chairing the newly formed African Mineral Strategy Group, taking a leading role in continental mining governance. With global players like the UK, US, and Saudi Arabia eager to secure alternative sources for critical minerals, Nigeria is emerging as a trusted, reform-driven partner. “This sector has never witnessed such vibrancy,” Alake remarked, emphasizing that mining is becoming a key pillar in the Tinubu administration’s efforts to diversify the economy. For a country historically dependent on oil, the solid minerals sector now offers the promise of sustainable and inclusive industrialization.