Nigeria Draws Fresh Mining Investments as Sector Expands

The momentum comes as Nigeria works to tap into an estimated $750 billion worth of mineral resources and increase mining's contribution to the national economy.

Nigeria's mining industry is attracting growing investor interest as government reforms, new processing projects and international partnerships help unlock the country's vast mineral wealth. Over the past three years, the solid minerals sector has secured close to $3 billion in investments, signalling stronger confidence in a market that has long been considered one of Africa's most underdeveloped mining destinations. The momentum comes as Nigeria works to tap into an estimated $750 billion worth of mineral resources and increase mining's contribution to the national economy.

Authorities have set an ambitious target of raising the sector's share of GDP to 10 percent, creating significant opportunities for investors, mining companies and technology providers looking to expand their presence in Africa.

New projects and partnerships boost industry outlook

A series of recent developments has strengthened optimism around the sector's future growth. Indigenous company Romulus Mining announced plans to triple investments in its gold and lithium assets, increasing spending from about $50 million to $150 million over the next three years.

Nigeria has also stepped up international cooperation to support the industry's expansion. A mining partnership agreement signed with Türkiye in May is expected to promote collaboration in geological exploration, mining technologies, digitalisation and workforce development. The agreement could also open the door to additional foreign investment and technical expertise.

At the same time, the country is placing greater emphasis on mineral processing and value addition. Construction and development plans are advancing for a $600 million lithium processing facility in Nasarawa State and a separate $200 million lithium processing plant in Abuja. These projects are expected to strengthen domestic processing capacity and support broader industrial development.

African Mining Week to spotlight investment opportunities

Nigeria's growing project pipeline will be showcased at African Mining Week (AMW) 2026, scheduled to take place in Cape Town from October 14 to 16. The event is expected to bring together investors, policymakers, mining executives and service providers from across the continent and beyond.

Dedicated sessions focusing on Nigeria will highlight exploration opportunities, downstream investments and policy reforms aimed at attracting capital into the sector. The conference will also provide a platform for networking and partnership building between international investors and local stakeholders.

Industry observers view the event as an important opportunity to connect global capital with Nigeria's expanding mining ambitions. With major investments already underway and new projects entering development, the country is positioning itself as a key destination for mining investment in Africa.

As Nigeria accelerates efforts to develop its mineral resources, the sector is increasingly being seen as a major driver of economic diversification, industrial growth and long-term job creation.