The Minister of Strong Minerals Improvement, Dr. Dele Alake, says Chinese language firms have invested over $1.3 billion in Nigeria’s lithium processing sector because the administration of President Bola Tinubu took workplace.
In an announcement issued by his Particular Assistant on Media, Segun Tomori, on Sunday in Abuja, Alake made the disclosure whereas talking on the 2025 China Mining Convention in Tianjin, themed “Join and Collaborate, Co-Construct and Co-Share.”
The minister acknowledged the rising participation of Chinese language corporations in Nigeria’s stable minerals sector.
“Since September 2023, when this administration assumed workplace, Chinese language firms resembling Canmax Expertise, Jiuling Lithium, Avatar New Vitality Nigeria Firm, and Asba have invested over 1.3 billion U.S. {dollars} in lithium processing,” he mentioned.
He defined that these investments have boosted Nigeria’s diversification drive and strengthened native capability in mineral growth.
“The investments have boosted Nigeria’s financial diversification efforts, lowered its dependency on oil and attracted infrastructure, expertise switch and experience.
“Joint Ventures between Chinese language and Nigerian firms within the mining sector typically improve native capabilities and abilities amongst Nigerian employees and engineers,” he mentioned.
Reforms within the sector
The minister urged extra buyers to make the most of reforms launched to enhance the convenience of doing enterprise and guarantee greater returns within the stable minerals trade.
“We’ve applied a number of safety and structural reforms, together with the institution of Mining Marshals and a satellite tv for pc monitoring system for mining websites, to curb unlawful mining and shield licenced operators,” he mentioned
Alake famous that his ministry has additionally deployed digital programs such because the Digital Mining Cadastre (eMC+) and the Nigerian Mineral Assets Determination System (NMRDS) to enhance transparency and effectivity.
“Processing mining licence purposes by means of the eMC+ and utilizing the NMRDS for mineral data are enhancing distant transactions in Nigeria’s mining sector,” he mentioned.
Extra particulars
As Chairman of the Africa Minerals Technique Group (AMSG), Alake reaffirmed Nigeria’s dedication to deepening continental collaboration in mineral exploration, governance, and reporting requirements.
He emphasised that Africa should construct shared programs of information and governance to completely profit from its huge mineral endowments.
Alake additionally introduced plans to reinforce the regional Centres of Excellence in Geosciences and Mining Abilities and develop the position of the Strong Minerals Improvement Fund (SMDF) in supporting early-stage exploration and de-risking investments.
The minister mentioned Nigeria is dedicated to accountable mining practices that help international clear vitality and sustainability objectives. He urged buyers and growth companions to make the most of the nation’s beneficial enterprise setting and incentives, including that the federal government’s imaginative and prescient just isn’t solely to extract minerals however to construct a globally aggressive mineral worth chain that promotes job creation, industrial progress, and a clear vitality transition.
What it’s best to know
Nairametrics reported that the stable minerals sector in 2024 generated over N38 billion, up from N6 billion the earlier 12 months, regardless of working on lower than one-fifth of its allotted funds. This progress has been largely pushed by the federal government’s coverage mandating native mineral processing earlier than export.
A number of main lithium initiatives at the moment are close to completion, together with a $600 million processing plant close to the Kaduna-Niger border and a $200 million refinery exterior Abuja. Two further processing crops in Nasarawa are additionally anticipated to be commissioned earlier than the third quarter of 2025.
- The Federal Authorities has allotted N1 trillion for mineral exploration this 12 months to generate internationally licensed geological information that may entice extra buyers.
- In Could 2024, the Federal Authorities revoked 924 inactive mining licences, accusing some holders of utilizing them to gas a black marketplace for buying mining titles. The cancelled permits included 528 exploration licences, 20 mining leases, 101 quarry licences, and 273 small-scale mining licences.
- Constructing on this, the ministry additionally introduced plans to revoke an extra 1,000 dormant licences throughout Nigeria as a part of ongoing efforts to scrub up the licensing system and reposition the mining sector for industrial progress.
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