Nigeria Courts Saudi Investment to Expand Lithium and Gold Processing Capacity
Nigeria Pitches $600 Million Lithium and Gold Projects to Saudi Investors to Build Minerals Hub
Nigeria has intensified efforts to attract Gulf investment after presenting a series of lithium processing and gold mining projects to Saudi investors, as Africa’s largest economy accelerates its push to diversify beyond oil and strengthen its solid minerals sector.
The initiative forms part of a broader strategy to position Nigeria as a major African hub for critical minerals required for the global energy transition.
The Minister of Solid Minerals Development, Dele Alake, disclosed the plans during a meeting with Saudi Arabia’s Minister of Industry and Mineral Resources, Ibrahim Al-Khorayef, held ahead of the Future Minerals Forum in Riyadh.
According to Alake, the projects represent the most concrete progress yet in Nigeria’s policy shift away from exporting raw minerals toward building domestic processing and refining capacity.
He said Nigeria has already brought a high-purity gold refining facility into operation in Lagos, while additional gold refineries are at various stages of development across the country.
In parallel, a large-scale lithium processing plant in Nasarawa State is nearing commissioning, signaling Nigeria’s ambition to become a key supplier of value-added minerals to global markets.
The renewed mining push follows sustained government efforts to dismantle illicit mining networks, particularly in gold-rich states such as Zamfara and Niger, where illegal operations had previously financed criminal syndicates and insurgent groups.
Authorities have increased security deployments, tightened licensing regimes, and strengthened oversight of mineral exports to bring more activity into the formal economy.
Nigeria is believed to host substantial gold resources spread across multiple states, alongside significant lithium potential.
By combining security enforcement with value addition and foreign partnerships, the government aims to unlock this resource base while improving transparency and investor confidence.
Nigeria’s mining strategy reflects a broader continental shift as African countries move to capture greater value from gold, lithium, and other critical minerals driven by rising global demand.
While challenges remain, Abuja’s approach offers a potential model for resource-rich African economies seeking to move beyond raw mineral exports and build resilient, investment-ready mining sectors.
