Nigeria Records $1.3 Billion Investment in Lithium Processing- Minister

The Minister of Solid Minerals Development, Dr. Dele Alake, has disclosed that investments in lithium processing alone have grossed $1.3 billion since September 2023.

He also noted that the Memoranda of Understanding (MOUs) signed by President Bola Ahmed Tinubu during his state visit to China in September 2024 have resulted in substantial new investment commitments.

Dr. Alake made this known while speaking on the theme “Connect and Collaborate, Co-Build and Co-Share” at this year’s China Mining Conference in Tianjin.

He urged investors to expand their stakes in Nigeria’s solid minerals sector, citing far-reaching reforms that promise higher returns.

According to a statement by Segun Tomori, Special Assistant on Media to the Honourable Minister of Solid Minerals Development, Dr. Alake impressed his Chinese hosts with Nigeria’s mining sector reforms, including the establishment of Mining Marshals and the Satellite Mines Monitoring Project, initiatives designed to secure licensed miners and curb illegal mining.

Highlighting Nigeria’s growing mining infrastructure, the Minister listed key innovations such as the Electronic Mining Cadastre (EMC+), the Nigerian Mineral Resources Decision System (NMRDS), and the revamped online platforms of the Ministry and its agencies—all aimed at facilitating global participation and remote transactions in the mining industry.

“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,” Alake said.

“These investments are advancing Nigeria’s economic diversification, attracting technology transfer, infrastructure, and expertise while creating jobs and enhancing local skills among Nigerian workers and engineers.”

He emphasised that Africa must build shared frameworks to fully benefit from its vast mineral wealth.

He further outlined plans to expand the Regional Centres of Excellence in Geosciences and Mining Skills and to strengthen the Solid Minerals Development Fund (SMDF) and SMDF-AFC Facility to support early-stage exploration and de-risk 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,” he said.

“Our vision is not just to extract minerals but to build a globally competitive value chain that supports clean energy transition, job creation, and industrial growth within the framework of responsible mining.”

Expanding exploration coverage
Representing Nigeria in the technical session on “Mining in Africa and Policy,” the Director-General of the Nigeria Geological Survey Agency, Professor Olusegun Omoniyi Ige, showcased the National Mineral Resources Data System (NMRDS) and Nigeria’s extensive aero magnetic and geochemical datasets, noting their crucial role in guiding mineral exploration.

He however, said that increased investment is needed to expand exploration coverage and convert geological data into proven mineral resources.

Other speakers at the conference included Mr. Xu Xueyi, Deputy Director General of the China Geological Survey; H.E. Mohamed Ahmed Taha, Minister of Minerals, Sudan; Ms. Phumzile Mgcina, Deputy Minister of Mineral and Petroleum Resources, South Africa; and Mr. Joseph Lebbie, Director General of Geological Exploration, Sierra Leone.