The Federal Government of Nigeria has officially commenced operations at its Lagos Gold Refinery, marking a significant milestone in the nation’s drive to process minerals locally and add value to its natural resources.

The Minister of Solid Minerals Development, Dr. Dele Alake, revealed that three additional gold refineries are in development across the country to expand refining capacity and curb the export of raw minerals.

In a related development, the government has completed a $600 million lithium processing plant in Nasarawa State, aimed at strengthening Nigeria’s participation in the global supply chain for lithium, a key material for batteries and clean energy technologies.

Dr. Alake made the announcements during a meeting with Saudi Arabia’s Minister of Industry and Mineral Resources, Ibrahim Al-Khorayef, ahead of the Future Minerals Forum (FMF) in Riyadh. The discussions highlighted cooperation in capacity building, technology transfer, professional training, and mineral exploration partnerships.

Officials emphasized that these projects align with Nigeria’s policy of processing and benefitting from minerals domestically, a move expected to create jobs, increase government revenue, and position Nigeria as a strategic hub for critical minerals in Africa.

The government said the initiatives are part of a long-term strategy to transition from exporting raw minerals to adding value within the country, particularly in sectors crucial to the global green energy transition.