Nigeria, Saudi Arabia Join Forces to Make Africa a Global Minerals Hub
The Federal Government has unveiled plans to leverage the Future Minerals Forum (FMF) platform to attract Saudi investment into Nigeria’s mining sector, as part of a broader strategy to position the country as Africa’s leading hub for critical minerals driving the global green energy transition.
The Minister of Solid Minerals Development, Dr. Dele Alake, disclosed this at a meeting with the Saudi Arabian Minister of Industry and Mineral Resources, Mr. Ibrahim Al-Khorayef, ahead of the FMF in Riyadh, Saudi Arabia. He said Nigeria would use the forum to showcase investment opportunities in its solid minerals sector while encouraging African countries to adopt advanced mining technologies, drawing lessons from Saudi Arabia’s progress.
Dr. Alake stated that Nigeria’s push to build lithium processing and gold refining plants was already yielding results, placing the country on course to become a key global player in the supply of critical raw materials. According to him, a high-purity gold refining plant is now operational in Lagos, with three additional refineries at various stages of development, alongside a $600 million lithium processing plant in Nasarawa State ready for commissioning.
He commended Saudi Arabia for expanding opportunities for cross-regional collaboration through the FMF, which brings together governments and industry players from Africa, the Middle East, Asia and Europe. He added that Nigeria was keen to deepen cooperation with the Kingdom by leveraging areas of comparative advantage in solid minerals development.
“There are areas where Saudi Arabia excels and others where Nigeria has strengths. We are keen on structuring agreements that will enable meaningful and constructive engagement. Priority areas include capacity building, training of mining professionals, technology transfer and exploration, where Saudi Arabia has demonstrated expertise,” Alake said.
The minister noted that Nigeria’s vast landmass is richly endowed with critical minerals and rare earth elements required by the global economy, stressing the need to use the FMF platform to forge partnerships anchored on fairness, equity and mutual benefit.
Recalling engagements following the FMF 2025, Alake revealed that a joint working group comprising the Nigerian delegation and the Saudi Chamber of Commerce has been active over the past year, with its report ready for presentation before the close of the current forum.
He also identified mineral traceability, Environmental, Social and Governance (ESG) standards, and mine-pit remediation as priority areas for collaboration, noting that traceability enhances investor confidence and should be central to any partnership, supported by clear timelines and robust monitoring mechanisms.
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In his response, Al-Khorayef reaffirmed Nigeria’s status as a longstanding ally of Saudi Arabia and agreed on the need for a practical and actionable framework for cooperation in solid minerals development.
He proposed that the joint working group develop a draft Memorandum of Understanding based on previous engagements for possible signing on the sidelines of the conference.
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