The Federal Government has announced the start of operations at a high-purity gold refinery in Lagos and said a $600m lithium processing plant in Nasarawa State is ready for commissioning, signalling a push to deepen local processing in Nigeria’s mining sector.
The Minister of Solid Minerals Development, Dr Dele Alake, disclosed this on Tuesday during a meeting with Saudi Arabia’s Minister of Industry and Mineral Resources, Ibrahim Al-Khorayef, ahead of the Future Minerals Forum in Riyadh.
Alake said the projects reflect the government’s value-addition policy, aimed at reducing the export of raw minerals and positioning Nigeria within global supply chains for critical minerals.
“Nigeria’s value-addition policy is already yielding tangible results, with a gold refining plant of very high purity now operational in Lagos, three additional gold refineries at various stages of development, and a $600 million lithium processing plant in Nasarawa State ready for commissioning,” the minister said.
According to a statement by his Special Assistant on Media, Segun Tomori, the meeting focused on strengthening bilateral cooperation in solid minerals development and translating previous engagements into concrete outcomes.
Alake said the operational Lagos refinery and the lithium facility underscore the government’s determination to promote in-country beneficiation rather than the export of unprocessed minerals.
He added that lithium, gold and other critical minerals are central to
Nigeria’s plans to diversify its economy and support global energy transition value chains.
The minister expressed Nigeria’s interest in expanding collaboration with Saudi Arabia, particularly in areas where both countries have complementary strengths.
“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 to engage meaningfully and constructively,” he said.
“Priority areas include capacity building, training of mining professionals, technology transfer, and particularly exploration, where Saudi Arabia has demonstrated some expertise.”
Alake also highlighted Nigeria’s vast landmass and deposits of critical minerals and rare earth elements, saying the Future Minerals Forum provides an opportunity to refine partnerships based on fairness, equity and mutual benefit.
He recalled that a joint working group involving officials from Nigeria and the Saudi Chamber of Commerce had been active since the 2025 edition of the forum and is expected to present its report before the end of the current meeting.
According to him, mineral traceability, Environmental, Social and Governance standards, and mine-pit remediation have been identified as priority areas for cooperation.
He said traceability, in particular, boosts investor confidence and should be backed by clear timelines and strong monitoring and evaluation mechanisms.
In his remarks, Al-Khorayef described Nigeria as a longstanding ally of Saudi Arabia and agreed on the need for practical, actionable agreements on solid minerals development.
He proposed that the joint working group prepare a draft memorandum of understanding for possible signing on the sidelines of the forum.
The Saudi minister also urged Nigeria to use the platform to showcase investment opportunities in its mining sector, while encouraging African countries to adopt advanced technologies in mining development, noting that Nigeria could benefit from Saudi Arabia’s experience.
Nigeria has in recent years stepped up reforms in the mining sector, including efforts to curb illegal mining, improve regulation and attract investment through incentives and a renewed emphasis on local processing.
The government sees the expansion of refining and processing capacity as critical to capturing more value from its mineral resources.
