Figures cited by The Guardian show that Nigeria is accelerating plans to transform its solid minerals sector as part of a strategic roadmap to achieve a $1 trillion economy by 2030. Organizers of the upcoming African Mining Week 2026 revealed that the country has already attracted approximately $3 billion in mining investments over the past three years. This recent inflow reflects a significant surge in international investor confidence as the federal government moves to bridge the infrastructure and financing gaps that have long stalled large-scale mineral development.
The Ministry of Solid Minerals is actively engaging global players to unlock an estimated $750 billion in untapped mineral wealth, focusing heavily on critical energy transition resources like lithium and gold. The state’s official target is to aggressively lift the mining sector’s contribution to the national Gross Domestic Product (GDP) to 10 percent. To demonstrate private sector commitment, Romulus Mining announced plans to scale its local investment portfolio from $50 million to $150 million over the next three years.
Concurrently, regulatory agencies have issued strict directives to end the illegal exploitation and smuggling of precious minerals, which have historically drained state revenues. Authorities are mandating value-addition policies, requiring international firms to process raw minerals locally before export. These reforms are anticipated to generate thousands of high-skilled engineering and artisanal jobs within rural communities.
The ambitious solid minerals revitalization drive was widely reported by Leadership and BusinessDay. Emphasizing the sector’s vast potential, a senior mining executive told Leadership that “Nigeria’s massive lithium and platinum reserves are finally receiving the global corporate attention required for transformative industrialization.” Furthermore, an investment analyst noted in BusinessDay that “enforcing local processing laws will ensure Nigeria retains maximum economic value from its natural endowments rather than exporting raw wealth.”
Echotitbits take: The pivot toward a solid-minerals-driven economy is a necessary step away from oil dependency, especially given the global demand for lithium and transition metals. However, transitioning from an estimated $750 billion in potential to actual extraction requires resolving deep-seated security challenges in mineral-rich northern and central states. Watch for how effectively the newly proposed mineral police and community development agreements protect these multi-million dollar corporate investments from local cartels.
Source: The Guardian – https://guardian.ng/news/1tr-economy-nigeria-explores-750b-mining-industry-orders-end-to-exploitation/, June 25, 2026
Photo credit: The Guardian
