In a bold stride towards transforming Nigeria’s mining landscape, Minister of Solid Minerals, Dele Alake, announced that two multi-million-dollar lithium factories will take off in the second quarter of 2025.
Speaking at a Solid Minerals Conference held in Abuja, Alake confirmed that investors are committing $700 million to a facility in Abuja and $600 million to a plant in Nasarawa, a bold step for the nation’s mining ambitions.
Formalising Mining Operations
Highlighting recent progress, Alake explained that President Bola Tinubu’s administration has driven efforts to formalise mining activities.
In just one year, miners have formed over 250 cooperatives, with nearly 50 joining monthly.
Consequently, these reforms have created around 27,000 jobs for artisanal miners across 90 reclaimed mine sites.
Community Development Success
Nigeria’s Community Development Agreement (CDA), designed to deliver mining benefits directly to local communities, has caught the attention of African nations.
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Notably, South Africa has begun adopting Nigeria’s model.
New Nigerian Mining Company
Additionally, Alake introduced the Nigerian Mining Company (NMC) as a new investment vehicle.
Nigerians will hold 25% equity, the Federal Government 25%, and private investors 50%.
This strategy, he noted, will ensure efficiency and accountability.
Boosting Sector Budget And Partnerships
Moreover, Alake praised President Tinubu for approving a substantial budget for the sector in 2025, reversing decades of neglect.
Nigeria also signed an MoU with South Africa to deepen mining partnerships and now grants licences only to investors committed to adding local value.
Nigeria’s Mining Leadership
Alake concluded by reaffirming Nigeria’s growing leadership in Africa’s solid minerals sector and the lasting opportunities these reforms will deliver.
