Nasarawa secures $800m solid minerals investment – Alake

The Federal Government has announced that Nasarawa State has attracted over $800 million in foreign investment in the solid minerals sector, including a newly sealed $400 million deal for Africa’s largest rare earth minerals plant.

Minister of Solid Minerals Development, Dele Alake, made this known while highlighting the impact of President Bola Ahmed Tinubu’s local value addition policy, which he said is transforming the sector with Nasarawa as a major beneficiary.

“Recently, due to this policy, we attracted over $800 million in direct foreign investment into Nasarawa State alone,” Alake said. “Just two days ago, I concluded another historic agreement for a $400 million rare earth and critical metals plant—the largest in Africa—to be located in Nasarawa. Once operational, it will create over 10,000 jobs.”

The minister also revealed that as part of the project, mineral separation centres will be established across other geopolitical zones to ensure national inclusivity.

Alake commended Governor Abdullahi Sule for creating a favorable investment environment in the state, jokingly referring to him as the “unofficial Minister of State for Solid Minerals” due to his contributions.

In response, Governor Sule expressed gratitude to the minister for attracting investors to the state. He disclosed that a major lithium mining and processing plant would be commissioned within two months.

“The state already hosts the largest lithium plant in Nigeria, but soon we will commission another facility in Endo, three times bigger. This is being developed by global lithium giants Julian Mining and Kanmas,” the governor said.

Sule added that the state has entered into a deal with one of the companies, which included a signature bonus of N2.5 billion, shared with the host community as part of the agreement.