Gold refinery opens in Lagos, marking a significant step as Nigeria drives efforts to add value to its mineral resources.
The high-purity facility leads a series of projects that aim to transform the nation from a raw mineral exporter into a hub for processing.
Expanding Gold Mining Infrastructure
Moreover, the government is constructing three additional gold refineries across the country, while developers have completed a $600 million lithium plant in Nasarawa State, ready for formal commissioning.
These projects aim to create jobs, boost revenue, and attract both local and foreign investment.
Driving Value Addition
Minister of Solid Minerals Development, Dr Dele Alake, explained that the government’s value-addition policy is delivering results.
“We are enhancing transparency, traceability, and investor confidence in Nigeria’s minerals sector,” he said.
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Importantly, lithium and gold play critical roles in electric vehicles, renewable energy storage, and advanced manufacturing.
By processing these resources locally, Nigeria positions itself as a key global partner in the green energy transition.
Strengthening Global Partnerships
In addition, Alake shared the updates during discussions with Saudi Arabia’s Minister of Industry and Mineral Resources, Ibrahim Al-Khorayef, ahead of the Future Minerals Forum in Riyadh.
The ministers focused on training, technology transfer, mineral exploration, and sustainable mining practices.
“Saudi Arabia brings expertise, while Nigeria offers vast mineral resources.
Therefore, we aim for partnerships that are balanced and constructive,” Alake explained.
Gold continues to rise, and analysts expect further growth of 15–30% in 2026 after record gains in 2025.
Overall, the new refineries and international collaborations signal a turning point, shaping a modern, value-driven mining industry in Nigeria.
