Solid Minerals Development Minister Dr Dele Alake has called on investors to increase their investment stakes in Nigeria’s solid minerals sector, following positive reforms that promise higher returns.
Reviewing the Chinese mining business, Alake acknowledged that investments in lithium processing alone grossed $1.3 billion since September 2023, adding that MOUs signed by President Bola Tinubu during the state visit in September 2024 have led to substantial investment commitments.
“Since September 2023, when this administration assumed office, Chinese companies such as Canmax Technology, Jiuling Lithium, Avatar New Energy Nigeria Company, and Asba have invested over $1.3 billion in lithium processing,” said Alake.
Speaking on ‘Connect and Collaborate, Co-Build and Co-Share’ at this year’s China Mining Conference in Tianjin, Alake highlighted security reforms, including the Mining Marshals and the satellite mines monitoring project, which were introduced to protect licensed miners and curtail illegal mining.
He cited technological upgrades to ease business and application processing, such as the Electronic Mining Cadastre, EMC+, the Nigerian Mineral Resources Decision System, and the websites of the ministry and agencies, as unique utilities that improve remote transactions globally in Nigeria’s mining sector.
Reviewing the Chinese mining business, Alake acknowledged that investments in lithium processing alone grossed $1.3 billion since September 2023, adding that MOUs signed by President Bola Tinubu during the state visit in September 2024 have led to substantial investment commitments.
“Since September 2023, when this administration assumed office, Chinese companies such as Canmax Technology, Jiuling Lithium, Avatar New Energy Nigeria Company, and Asba have invested over $1.3 billion in lithium processing,” said Alake.
The minister added, “The investments have boosted Nigeria’s economic diversification efforts, reduced its dependency on oil and attracted infrastructure, technology transfer, and expertise. Joint Ventures between Chinese and Nigerian companies in the mining sector often enhance local capabilities and skills among Nigerian workers and engineers.”
Alake, who is currently the chairman of the Africa Minerals Strategy Group, reaffirmed Nigeria’s commitment to strengthening continental cooperation in mineral exploration and reporting standards, stating that Africa must build shared systems of knowledge and governance if it is to fully benefit from its vast mineral endowments.
He reaffirmed plans to strengthen the regional centres of excellence in Geosciences and Mining Skills, and to expand the role of the Solid Minerals Development Fund and the SMDF AFC Facility in supporting early-stage exploration and de-risking investments.
“We warmly invite investors, development partners, and technical institutions to explore Nigeria’s vast opportunities in minerals such as lithium, gold, lead-zinc, barite, and rare earth elements. Our government offers a conducive investment climate, improved security of tenure, and incentives that guarantee mutual benefit.
“Nigeria’s vision is not only to extract minerals but to build a globally competitive value chain that supports clean energy transition, job creation, and industrial growth, all within the framework of responsible mining,” Alake stated.
Representing Nigeria in the technical session on ‘Mining in Africa and Policy’, the Director-General of Nigeria Geological Survey Agency, Prof Olusegun Omoniyi Ige, highlighted the NMRDSS and Nigeria’s extensive aeromagnetic and geochemical datasets, which together provide a solid foundation for informed mineral exploration.
He noted that while these datasets have greatly improved the country’s geological understanding, greater investment is still required to expand exploration coverage and convert data into proven mineral resources.
