BIG DEAL | FG Courts Global Investors With Mining Incentives at London Expo; over $2bn Confirmed Inflows, Multi‑Billion Pipeline

Nigeria pitches the mining sector as a global capital magnet, with $2.45bn confirmed inflows and multi‑billion projects in the pipeline under Tinubu’s Renewed Hope agenda.​

Abuja — Nigeria is positioning its mining sector as a new frontier for global capital, unveiling incentives that have already attracted over $2 billion in confirmed foreign direct investment (FDI) and projecting a pipeline of multi‑billion‑dollar projects under President Bola Tinubu’s administration.

Minister of Solid Minerals Development, Dr. Dele Alake, made the pitch at the Resourcing Tomorrow Annual Exhibition and Conference in London, stressing that Nigeria is “ready for investment” and offering seamless profit repatriation alongside duty‑free importation of mining machinery as key incentives.

Confirmed Investments

Lithium & rare‑earth projects (past 2 years): $2 billion+; Lithium processing (Canmax, Jiuling Lithium, Avatar New Energy, Asba Group): $1.3 billion+, New Lithium plant near Abuja: $50 million and Rare‑earth ore processing plant (Hasetins Group): $400 million. Together, these commitments bring Nigeria’s confirmed inflows to at least $2.45 billion.

Pipeline Projects

Similarly, a multi‑billion‑dollar iron‑to‑steel project using advanced technology is in development stage with additional industrial clusters planned across Nasarawa, Kogi, Kwara, and Ebonyi, anchored by the Abuja lithium plant.

Alake emphasized that these ventures are not speculative but “bricks, mortar, and machinery,” underscoring Nigeria’s shift from pit‑to‑port exports to local beneficiation.

Security & Governance

To secure mining sites and enforce regulations, the Tinubu administration has deployed Mining Marshals and is enhancing monitoring with satellite technology. The newly created Nigeria Solid Minerals Company (NSMC) will act as a sovereign partner, co‑investing in high‑value projects, mitigating exploration risks, and promoting downstream processing.

Reforms include:

Geological mapping covering more than 80% of the country; Solid Minerals Export Guidelines aligned with international standards for traceability and environmental protection with 427 community development agreements signed between mining companies and host communities to embed ESG principles.

Why It Matters

Nigeria’s mining sector is emerging as a cornerstone of economic diversification. With billions already committed and more in the pipeline, the government’s incentives are positioning the country as a global hub for lithium, rare‑earths, and steel production.