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The Minister of Solid Minerals Development, Dr Dele Alake, said Nigeria had attracted more than $2 billion in mineral processing investments, signalling growing investor confidence in the country’s mining sector and ongoing reforms aimed at driving industrial development.
Dr Alake stated this while speaking at the 2026 African Natural Resources and Energy Investment Summit (AFNIS) in Abuja.
Alake said the investments included a $600 million lithium processing facility in Nasarawa State, a $200 million lithium processing plant awaiting commissioning, a $50 million lithium refining project and a proposed $1 billion iron ore processing investment.
The Minister said the projects reflected the success of the Federal Government’s policy on local value addition and mineral beneficiation, which sought to ensure that minerals were processed within Nigeria to create jobs, stimulate industrial growth and increase national revenue.
According to him, recent exploration activities by the Nigerian Geological Survey Agency had confirmed significant deposits of gold, lithium, nickel, copper, rare earth elements and other strategic minerals in Kaduna State, positioning Nigeria as a major destination for global mining investment.
Alake noted that the government had intensified efforts to sanitise the mining sector through regulatory reforms, transparency measures and stricter compliance requirements.
He added that more than 10,000 dormant mining licences had been revoked to discourage speculation and free mineral assets for serious investors.
The Minister stressed that Africa had to move beyond the export of raw materials and focus on value addition, processing and industrialisation, describing critical minerals as a key driver of the global energy transition and future economic growth.
In a goodwill message, Kenya’s Cabinet Secretary for Mining, Blue Economy and Maritime Affairs, Hassan Ali-Joho, called for stronger cooperation among African countries in the development of mineral resources and regional infrastructure.
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Ali-Joho, represented by his Special Assistant, Mariam Abdullahi, noted that Africa possessed vast deposits of critical minerals required for clean energy technologies and industrial development, but emphasised that the continent had to develop cross-border partnerships, harmonised policies and competitive investment frameworks to maximise the benefits of its resources.
Ali-Joho also urged African governments to accelerate local beneficiation and processing of minerals, warning that the continued export of raw materials deprived the continent of jobs, industrial growth and long-term economic prosperity.
At the summit, one of the partners and Executive Director of Mineral Resources Development at Romulus Mining, Tim Tokun, said Africa possessed enormous mineral wealth capable of transforming the continent into a global commodity powerhouse if properly harnessed through strategic investments and regional collaboration.
He noted that several African countries held substantial reserves of critical minerals, including manganese, bauxite, nickel, graphite and titanium, which were increasingly in demand due to the global transition to clean energy and advanced technologies.
Tokun challenged African leaders, investors and industry stakeholders to move beyond discussions and focus on implementing practical solutions that would unlock the continent’s resource potential and create sustainable economic opportunities for future generations.
In his welcome address, the Permanent Secretary of the Ministry of Solid Minerals Development, Faruk Yabo, described the summit as a strategic platform for governments, investors and development partners to forge partnerships and mobilise investments for Africa’s industrial and energy future.
Yabo said the theme of the summit, “One Africa, One Resource Vision”, reflected the need for African nations to work together in advancing industrialisation, value addition and sustainable development.
He urged participants to translate discussions into concrete investments, industries and jobs capable of driving shared prosperity across the continent.
