NIGERIA TO HOST AFRICA’S FIRST CRITICAL MINERALS POWERHOUSE IN NASARAWA

$400 Million Foreign Direct Investment Deal to Transform Nigeria into Rare Earth Processing Hub.

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Nigeria Secures $400 million Foreign Direct Investment to Establish Africa's Largest Rare Earth and Minerals Processing Facility
Nigeria Secures $400 million Foreign Direct Investment to Establish Africa's Largest Rare Earth and Minerals Processing Facility

In a historic move set to redefine Africa’s position in the global critical minerals supply chain, Nigeria has secured a $400 million Foreign Direct Investment (FDI) to establish the continent’s largest rare earth and critical minerals processing facility in Nasarawa State.

The game-changing project, led by Hasetins Commodities Limited, represents a major shift in Nigeria’s economic landscape and mineral development strategy. Once operational, the facility will not only process essential materials used in clean energy technologies, electronics, and high-tech manufacturing but also generate over 10,000 jobs across the country.

Dr. Dele Alake, Special Assistant on Media to the Minister of Solid Minerals Development, announced the investment as a turning point for Nigeria’s mining industry. According to him, the plant is in direct alignment with President Bola Ahmed Tinubu’s policy to boost in-country value addition and reduce the nation’s dependence on raw material exports.

“With your partnership, we are now witnessing the birth of what will be the largest rare earth and critical minerals plant in Africa, right here on Nigerian soil,” Dr. Alake said.

The announcement came after a formal visit by Jidayi Ijudigal, Managing Director and CEO of Hasetins Commodities, who presented the company’s expansion blueprint. Currently operating a 6,000 metric tonne facility, the firm plans to double capacity to 12,000 metric tonnes with the launch of the new plant. 

This will be complemented by a network of regional separation centers, a novel approach that decentralizes processing closer to mining communities, improves logistics, and empowers artisanal miners.

Beyond mineral beneficiation, the investment is also expected to act as a magnet for downstream industries and technology development, positioning Nigeria as a continental and global processing hub.

Dr. Alake emphasized that the investment is a direct result of bold policy reforms under the Tinubu administration, designed to de-risk the solid minerals sector and attract high-impact investors.

With critical minerals like lithium, neodymium, and cobalt becoming central to the global clean energy transition, Nigeria’s rise as a processing powerhouse signals a new era of mineral-based industrialization for Africa.

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