ABUJA, June 18 – Nigeria says its solid minerals sector has drawn about $3 billion in investments over the past three years, with inflows spread across lithium, gold and other key minerals.
The Federal Government made the disclosure on Wednesday during a press briefing ahead of the 5th African Natural Resources and Energy Investment Summit, scheduled for June 23 to June 25, 2026, in Abuja.
According to the Ministry of Solid Minerals Development, the investment inflow reflects growing confidence in ongoing reforms and signals stronger prospects for the sector going forward.
The Minister of Solid Minerals Development, Dr Dele Alake, represented by the Managing Director of the Nigeria Solid Minerals Company, Martins Imonitie, said the mining sector is beginning to attract long-term capital despite its slow investment cycle.
He noted that mining projects often take years to develop, with investors carrying out detailed geological studies, securing financing and identifying buyers before committing funds.
According to him, attracting about $3 billion within three years is a major milestone, given the long timelines involved in mining development globally.
He also said the investments cover several strategic minerals, including lithium and gold, and reflect increased investor interest in Nigeria’s resource base.
The government added that the upcoming summit will focus on turning Africa’s natural resources into tools for industrial growth, job creation and local value addition rather than only raw material exports.
It also said the summit will encourage stronger cooperation among African countries in developing critical minerals, energy infrastructure and shared value chains.
Nigeria has in recent years pushed reforms aimed at reducing dependence on oil by expanding mining activities, improving regulation, formalising artisanal mining and encouraging local processing of minerals.
Officials say the goal is to position solid minerals as a stronger contributor to national revenue and long-term economic growth.
