EU Partners Nigeria To Harness Rich Solid Minerals

The European Union, EU, has expressed its readiness to partner Nigeria’s rich solid minerals sector as part of efforts to diversify trade and deepen economic ties with Africa’s largest economy.

The EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, stated this when he visited the Minister of Solid Minerals Development, Dr. Dele Alake, in Abuja.

Ambassador Mignot explained that the EU is eager to understand the landscape better, with a view to fostering strategic partnerships between European investors and the Nigerian government.

Ambassador Mignot, assured that the EU will engage member states and European businesses to explore opportunities in Nigeria’s mining sector.

He emphasized the bloc’s commitment to sustainable and mutually beneficial trade with Nigeria.

Responding, the Minister of Solid Minerals Development, Dr. Dele Alake applauded the EU’s interest, noting that the Federal Government is committed to engaging with international partners to unlock the immense potential of Nigeria’s mineral wealth.

“Given our history and the cordial relationship we’ve maintained with the EU, the time is ripe to map out concrete plans and translate them into actionable projects within the solid minerals sector,” Alake said.

The Minister emphasized Nigeria’s vast deposits of critical minerals such as lithium, cobalt, and copper key to powering the global green energy transition.

He noted that even within areas explored so far, Nigeria is sitting on mineral deposits estimated at over $700 billion, presenting a massive investment opportunity for global partners.

Dr. Alake outlined several government incentives to encourage investment, to include tax waivers on mining equipment, full repatriation of profits, deployment of mining marshals to ensure security, and simplified licensing processes.

He reiterated that local value addition remains a non-negotiable requirement for mining licenses.

“Any serious investor that intends to invest in our sector must have concrete plans for local value addition because that is the only way we can ignite the potential of our local economy and create multiplier effects—jobs, technology transfer, and industrial growth,” the Minister added.

Dr. Alake announced that Nigeria is implementing mechanisms to ensure traceability and transparency in mineral extraction and export.

“These include pre-shipment inspections, satellite monitoring from mine to port, and closer international cooperation to curb smuggling.

“If we put mechanisms in place, in collaboration with other nations, we can reduce to the barest minimum incidences of our minerals surfacing in unauthorized hands,” he said.

“People smuggling lithium or other minerals to manufacture products elsewhere that do not benefit the host country must be stopped.”

By Georgina Humphrey