Nigeria is fast emerging as Africa’s leading minerals supply hub with the establishment of lithium processing and gold refining plants across the country, the Minister of Solid Minerals Development, Dr. Dele Alake, has said.
Alake spoke during a high-level meeting with Saudi Arabia’s Minister of Industry and Mineral Resources, Mr. Ibrahim Al-Khorayef, ahead of the ongoing Future Minerals Forum (FMF) in Riyadh, Saudi Arabia.
According to the minister, Nigeria’s value-addition policy in the mining sector is already delivering tangible outcomes, citing the operation of a high-purity gold refining plant in Lagos, three additional gold refineries currently at various stages of development, and a $600 million lithium processing plant in Nasarawa State that is ready for commissioning.
He said the new plants were positioning Nigeria as a critical global partner in the supply of minerals needed for the transition to green energy, while also strengthening local industrial capacity and job creation.
Alake commended Saudi Arabia for providing a strategic platform through the Future Minerals Forum to expand collaboration among governments and stakeholders across Africa, the Middle East, Asia, and Europe.
He stressed Nigeria’s readiness to deepen its partnership with the Kingdom of Saudi Arabia by leveraging comparative advantages in solid minerals development.
“There are areas of comparative advantage where Saudi Arabia excels and others where Nigeria has strengths. We are keen on structuring agreements that will enable us engage meaningfully and constructively,” Alake stated.
He listed priority areas for cooperation to include capacity building, training of mining professionals, technology transfer, and exploration, noting that Saudi Arabia has demonstrated expertise in exploration activities.
The minister also underscored Nigeria’s vast mineral endowment, including critical minerals and rare earth elements required by the global economy, adding that the FMF platform offered an opportunity to fine-tune partnerships anchored on fairness, equity and mutual benefit.
Recalling engagements following FMF 2025, Alake disclosed that a joint working group involving Nigeria’s delegation and the Saudi Chamber of Commerce has been active over the past year, and that its report is ready for presentation before the close of the current forum.
He further highlighted mineral traceability, Environmental, Social and Governance (ESG) standards, and mine-pit remediation as key areas requiring collaboration, stressing that traceability boosts investor confidence and should be central to any partnership framework.
Alake also called for clear implementation timelines, alongside strong monitoring and evaluation mechanisms, to ensure that agreements translate into measurable results.
In his remarks, Saudi Arabia’s Minister of Industry and Mineral Resources, Al-Khorayef, reaffirmed Nigeria’s status as a longstanding ally of the Kingdom and agreed on the need for a practical and actionable partnership agreement on solid minerals development.
He proposed that the joint working group develop a draft Memorandum of Understanding (MoU), based on previous engagements, for possible signing on the sidelines of the conference.
Al-Khorayef also urged Nigeria to use the FMF platform to showcase investment opportunities in its mining sector to Saudi investors, while encouraging African countries to adopt advanced mining technologies, noting that Nigeria could benefit from Saudi Arabia’s progress in the sector.
