FG unveils Lagos gold refinery, prepares $600m lithium plant in Nasarawa

The Federal Government has officially begun operations at a high-purity gold refining plant in Lagos, while three additional gold refineries are at various stages of development nationwide. In addition, a $600 million lithium processing plant in Nasarawa State is ready for commissioning.

Minister of Solid Minerals Development, Dr. Dele Alake, announced this on Tuesday, highlighting the projects as major outcomes of the government’s value-addition policy in the mining sector. According to him, these initiatives are positioning Nigeria as Africa’s leading minerals hub and a strategic global partner in critical minerals essential for the green energy transition.

Dr. Alake made the disclosure during a meeting with Saudi Arabia’s Minister of Industry and Mineral Resources, Mr. Ibrahim Al-Khorayef, ahead of the Future Minerals Forum in Riyadh. The discussion, according to a statement by Alake’s Special Assistant on Media, Segun Tomori, focused on strengthening bilateral cooperation in mining and translating prior discussions into actionable outcomes.

“The operational Lagos gold refinery and the forthcoming lithium processing facility underscore the Federal Government’s commitment to moving Nigeria away from raw mineral exports toward local processing and beneficiation,” Alake said.

The minister emphasized Nigeria’s interest in leveraging partnerships with Saudi Arabia, particularly in areas such as capacity building, professional training in mining, technology transfer, and exploration. “There are areas where Saudi Arabia excels and others where Nigeria has strengths. We are keen on structuring agreements for meaningful and constructive engagement,” Alake added.

He also stressed Nigeria’s vast landmass and abundance of critical minerals and rare earth elements, urging the Future Minerals Forum platform to help forge partnerships based on fairness, equity, and mutual benefit. Alake noted that a joint working group of Nigerian and Saudi officials, active over the past year, would present its report before the end of the forum, with priority areas including mineral traceability, ESG standards, and mine rehabilitation.

In response, Minister Al-Khorayef reaffirmed Saudi Arabia’s support for Nigeria and proposed the development of a draft MOU on solid minerals cooperation, which could be signed during the forum. He also encouraged Nigeria to showcase mining investment opportunities to Saudi investors and for African countries to adopt advanced technologies in the sector.

Nigeria has stepped up efforts in recent years to reform its mining sector, combat illegal mining, attract investment through incentives and improved regulation, and promote local processing. Lithium, gold, and other critical minerals are seen as central to diversifying the economy and supporting global clean-energy value chains amid rising demand for battery and green-energy inputs.