Processing lithium, critical minerals in Nigeria important for youth development – Areola

A former Special Adviser to Minister of Youth and Chief Executive Officer of Vivacity, Oluwakemi Ann-Melody Areola has urged Nigeria maximise its critical minerals potential, or it risks remaining a raw material exporter.

Areola in a chat with The Guardian in Abuja said youth development is tied to processing Nigeria’s critical minerals and becoming a major player in the global value chain.

According to Areola, Nigeria’s vast reserves of lithium, gold, and other essential minerals position the country for a leading role in global energy transition and technology production. She however said the lack of infrastructure, inadequate processing facilities, and weak regulatory frameworks must be tackled to ensure progress.

“The key to unlocking Nigeria’s potential in the global critical minerals market is value addition,” Areola said. “Rather than exporting raw minerals, we need to invest in processing plants, research, and local beneficiation to create jobs and retain wealth within the country.”

She emphasised that industrial zones dedicated to mineral processing, combined with global partnerships, could accelerate Nigeria’s position in the supply chain. Additionally, Areola urged policymakers to prioritize STEM education and technical training to build a skilled workforce for the sector.

“If properly managed, Nigeria’s critical minerals can drive industrial growth, create employment, and reduce dependency on oil revenues,” she added.

Areola also noted that President Bola Tinubu’s pledge to support Nigeria’s fintech industry could be a game-changer for young Nigerians. She warned that regulatory bottlenecks, cybersecurity threats, and infrastructure challenges must be addressed for real progress.

She noted that fintech companies such as Flutterwave, Paystack, and OPay have revolutionised Nigeria’s financial sector by enhancing digital transactions and financial inclusion.

However, she stressed that without regulatory clarity and enhanced security measures, the industry could struggle to scale further.
“Government backing is crucial for fintech growth,” Areola said. “We need clear regulations, streamlined licensing, and policies that encourage innovation rather than stifle it.”

She also highlighted cybersecurity risks as a growing concern in the sector, warning that fintech startups and regulators must collaborate to strengthen digital security.

“As digital transactions increase, cybercriminals become more sophisticated. Ensuring that fintech companies have strong security frameworks is critical to maintaining trust in the ecosystem,” she added.

Areola believes that with the right policies, Nigeria could emerge as Africa’s leading fintech hub, attracting investors and positioning itself at the forefront of the continent’s digital economy.