Tinubu govt sets up Nigeria’s gold refining plant in Lagos
A high-purity gold refining plant has commenced operations in Lagos, with three more still in the developmental stage in different parts of Nigeria, while a $600 million lithium processing plant will soon be commissioned in Nasarawa. Solid minerals minister Dele Alake disclosed this on Tuesday.
Mr Alake announced this in a meeting with the Saudi Arabian Minister of Industry and Mineral Resources, Ibrahim Al-Khorayef, ahead of the Future Minerals Forum in Riyadh, according to a statement by his spokesman, Segun Tomori.
“Nigeria’s value-addition policy is already yielding tangible results, with a gold refining plant of very high purity now operational in Lagos, three additional gold refineries at various stages of development, and a $600 million lithium processing plant in Nasarawa State ready for commissioning,” said Mr Alake. “There are areas of comparative advantage where Saudi Arabia excels and others where Nigeria has strengths. We are keen on structuring agreements that will enable us to engage meaningfully and constructively.”
Mr Alake said Nigeria’s priority areas of collaboration with the country include mineral traceability, environmental, social, and governance standards, as well as mine-pit remediation.
He also mentioned that, following the 2025 edition of the forum, a joint working group from Nigeria and the Saudi Chamber of Commerce, which had been active over the past year, would present its report before the end of the current forum.
Expressing his support for the proposed agreement on solid minerals development, Mr Al-Khorayef urged the working group to draft an MOU based on previous engagements for its signing, while also advising Nigeria to take advantage of the forum to promote investment opportunities in its mining sector to Saudi investors.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Economy
FGN/IFAD-VCDP, SMEDAN trains micro entrepreneurs in Taraba
The training was also done in collaboration with the Small and Medium Enterprise Development Agency of Nigeria.
World
Fossil fuel phaseout urgent as 1.5°C target likely to be passed by 2030, group warns
Just two weeks into 2026, wildfires ravaged parts of Australia, Argentina, and South Africa, a snowstorm disrupted Europe, and floodwaters inundated Indonesia.
States
Bandits: Governor Bago orders Niger residents to vacate Kainji Lake area
The Niger government has given a two-month notice to people living in hamlets around Kainji Lake to vacate the area so as to be resettled by the Emirate Council.
States
Jos man handed prison sentence for stealing phone
The Area Court in Jos on Wednesday sentenced one Miracle Pam to 12 months’ imprisonment for house breaking and stealing a phone worth N126,000.
Entertainment
Atorise, Remilekun-Amos, others mourn ‘Omije Ojumi’ singer Bunmi Akinnaanu
Atorise said, “She was a great colleague and I feel grateful to have worked with her when she was alive.”
Economy
NLC urges proactive action for progress in 2026
The Nigeria Labour Congress has urged governments at all levels to prioritise accountability, stewardship, responsiveness, social justice, and improved security in 2026.
