The Federal Government says Nigeria attracted over $800 million in processing investments in its solid minerals sector last year.
This was disclosed in a statement made available to newsmen on Sunday by the Special Adviser to the President on Information and Media Strategy, Bayo Onanuga.
The Minister of Solid Minerals Development, Dele Alake attributed the surge to the President Tinubu’s administration’s policy shift, favouring in-country value addition and stricter licensing requirements.
Alake also revealed that sector revenue climbed to more than ₦38 billion in 2024, up from ₦6 billion the previous year, despite the ministry receiving only 18% of its ₦29 billion budget allocation.
According to him, the reforms have led to a marked increase in investor interest.
He further pointed to several major projects now underway, including a $600 million lithium processing plant located near the Kaduna Niger border, scheduled for commissioning this quarter.
The Minister made these remarks during a featured interview for an upcoming State House documentary marking President Tinubu’s second year in office.
News edited by Favour Owonibi