As part of efforts to develop a $1 trillion economy by 2030, Nigeria is leveraging the mining industry as the sector enters a new phase of growth.

This is disclosed in a statement by the Chief Executive Officer (CEO) and Co-Founder, Energy Capital and Power, organisers of the African Mining Week.

According to him, after securing roughly $3 billion in investments over the last three years, stakeholders have noted that it reflects growing investor confidence as the country seeks to bridge the financing gap hindering large-scale mining development.

He said, “The investment milestone comes as Nigeria deepens engagement with investors to unlock its estimated $750 billion in untapped mineral resources. The country is targeting an increase in mining’s contribution to GDP to 10 per cent, creating lucrative investment opportunities for global mining industry players.

The developments are disclosed as African Mining Week (AMW) 2026, Africa’s Most Influential Mining Conference, which is being planned to take place later this year, where Nigeria intends to showcase its expanding project pipeline and investment opportunities.

Through dedicated country sessions, project showcasing, and executive networking, the event will connect international investors with policymakers, mining companies and service providers driving the country’s mining transformation.

“Nigeria’s expanding investment pipeline is a testament to its drive to strengthen partnerships. In June 2026, Romulus Mining announced plans to increase investments across its gold and lithium portfolio from approximately $50 million to $150 million over the next three years, underscoring growing private sector confidence in the country’s mining outlook,” the statement noted.

MEANWHILE, President Bola Tinubu has urged African countries to work together to end the exploitation of the continent’s mineral resources and ensure that value is added locally before export.

Tinubu spoke yesterday while receiving a delegation of the African Minerals Strategy Group (AMSG) at the State House in Abuja.

The group, chaired by the Minister of Solid Minerals Development, Dele Alake, is a forum of African ministers responsible for mining and solid minerals development. Tinubu serves as the grand patron of the organisation.

The President said African nations must strengthen their bargaining power in the global minerals market and prevent the continent from remaining merely a source of raw materials for industrialised nations.

Tinubu said Africa possesses vast mineral wealth that could drive industrialisation, create jobs and improve living standards if properly harnessed.

Speaking earlier, Alake thanked Tinubu for supporting reforms in Nigeria’s mining sector, particularly efforts aimed at local value addition and economic diversification.

The minister said some African countries had already moved to ban the export of raw minerals as part of efforts to retain more value from their natural resources.