The Federal Government of Nigeria has endorsed a $400 million investment plan by a consortium of investors to establish a minerals processing plant in Nasarawa State, aimed at enhancing the country’s solid minerals sector.
The project, announced during a stakeholders’ meeting in Lafia on Friday, June 20, targets lithium, tin, and tantalite, leveraging Nasarawa’s rich deposits to drive export revenue and job creation.
Minister of Solid Minerals Development, Dele Alake, described the plant as a “game-changer,” projecting 5,000 direct jobs and $200 million in annual exports. The facility, to be located in Keffi, will feature advanced beneficiation technology, addressing Nigeria’s reliance on raw mineral exports, which earned $1.2 billion in 2024, per the Nigerian Mining Cadastre Office. Nasarawa Governor Abdullahi Sule, a key proponent, secured a 20% state equity stake, ensuring local benefits.
The FG’s backing includes tax incentives and security guarantees, amid concerns over illegal mining, which costs Nigeria $9 billion annually, per the EFCC. Critics, including the Nigeria Labour Congress, warn of environmental risks, citing unregulated mining in Zamfara. The project aligns with President Tinubu’s diversification agenda, with commissioning slated for Q3 2027. Alake urged investors to expedite construction, noting global demand for Nigeria’s lithium, driven by EV battery production.