The Federal Government has announced that Nigeria’s solid minerals sector attracted about $3 billion in investmentsover the last three years, marking one of the biggest achievements in the country’s mining industry.
The government said the investments were made across key mineral resources such as lithium, gold, and other strategic minerals. Officials attributed the growing interest from investors to ongoing reforms introduced by President Bola Tinubu’s administration and the Ministry of Solid Minerals Development.
The announcement was made during a press briefing ahead of the 5th African Natural Resources and Energy Investment Summit (AFNIS 2026), scheduled to take place in Abuja from June 23 to June 25.
Speaking at the event, the Minister of Solid Minerals Development, Dr. Dele Alake, represented by the Managing Director and Chief Executive Officer of the Nigeria Solid Minerals Company, Martins Imonitie, described the investment inflow as a major milestone.
According to him, attracting $3 billion into the mining sector within a short period is remarkable because mining projects typically require years of planning, research, financing, and development before becoming commercially successful.
He explained that investors in the mining industry usually take a long-term approach. Before committing funds, they conduct detailed geological studies, secure financing, identify buyers for the minerals, and meet several technical and regulatory requirements.
Imonitie noted that the recent investment figures show that global investors are gaining confidence in Nigeria’s mining industry and its future potential.
He added that the investments are expected to create jobs, boost economic activities, and strengthen the country’s efforts to diversify away from oil dependence.
The minister also highlighted the importance of AFNIS 2026, stating that the summit aims to encourage African countries to move beyond exporting raw materials and focus on local processing, industrialization, and value addition.
According to him, Africa’s vast natural resources should become tools for creating jobs, transferring technology, developing infrastructure, and generating long-term wealth for citizens across the continent.
The summit’s theme, “One Africa, One Resource Vision,” reflects the need for stronger cooperation among African nations in developing critical minerals, energy infrastructure, and regional value chains.
He stressed that many of Africa’s resource-related opportunities and challenges can no longer be addressed by individual countries acting alone. Instead, regional partnerships will be key to unlocking the continent’s full economic potential.
The event is expected to bring together government officials, investors, mining companies, financial institutions, technology providers, and project developers from several African countries.
Also speaking at the briefing, Archibald Troko, Director of Strategy and Platform Development at iMine, revealed that investment deals linked to previous AFNIS editions have generated nearly $600 million over the last four years.
He explained that the summit has become a major platform where governments, investors, and industry players meet to negotiate projects and close business deals.
As global demand for minerals such as lithium, cobalt, graphite, and rare earth elements continues to rise, Nigeria and other African nations are positioning themselves to become key suppliers for electric vehicles, battery storage systems, and renewable energy technologies.
Officials believe that if properly managed, Africa’s mineral wealth could drive industrial growth, create millions of jobs, and support sustainable economic development across the continent.
