The European Union (EU) has announced its growing interest in investing in Nigeria’s solid minerals sector, a move that reflects the bloc’s ambition to secure vital raw materials for its green energy transition. This development was revealed during a courtesy visit by the EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, to the Minister of Solid Minerals Development, Dele Alake, in Abuja.
During the visit, Ambassador Mignot praised the Nigerian government’s ongoing efforts to reform and reposition the mining industry, indicating that the EU is eager to explore investment opportunities and understand the regulatory framework governing the sector. He emphasized that the EU’s member states are looking to collaborate in areas that offer mutual benefits and long-term growth.
In his response, Minister Dele Alake expressed Nigeria’s readiness to deepen engagement with the EU to unlock the full potential of its mineral wealth. He highlighted that Nigeria possesses commercially viable quantities of high-demand minerals such as lithium, cobalt, and copper. According to the minister, even within the limited areas explored so far, Nigeria is sitting on mineral deposits estimated at over $700 billion. He described this as a massive investment opportunity for European investors and emphasized that the time is ripe to translate existing goodwill into concrete projects that support shared prosperity.
Minister Alake explained that the government has created an investor-friendly environment that includes tax incentives for mining equipment, full repatriation of profits, improved security for mining operations through dedicated mining marshals, and a streamlined licensing process designed to fast-track approvals. However, he emphasized that local value addition remains a core requirement for any investor seeking a mining license in Nigeria. According to him, only investors with plans to process minerals within Nigeria, rather than exporting them raw, will be granted access to mining opportunities. This, he stated, is essential for job creation, technology transfer, and sustainable national development.
Alake also revealed that Nigeria is intensifying efforts to ensure transparency, sustainability, and traceability in its mineral exports. The government is rolling out pre-shipment inspections and satellite monitoring to track the movement of minerals from mine sites to ports and processing plants. He underscored Nigeria’s determination to prevent illegal mining and reduce the smuggling of valuable minerals like lithium, pointing out that with cooperation from international partners, the country can stop the illicit trade that deprives Nigerians of economic benefits.
The minister cautioned against foreign entities acquiring Nigerian minerals under the radar and using them to manufacture goods abroad without contributing to the host economy. He stressed that such practices would be curbed through stronger regulations and enhanced international collaboration, especially with the EU.
Ambassador Mignot assured that the EU is ready to work with Nigeria to develop a robust, transparent, and investor-friendly mining sector. He noted that consultations are already underway with EU member countries to encourage European companies to explore the Nigerian market. Mignot expressed confidence that partnerships in the solid minerals space would benefit both sides, especially as the global focus shifts towards cleaner energy and sustainable sourcing.
As the world transitions to green energy, Nigeria’s rich solid minerals sector is becoming increasingly vital. With the EU now actively signaling interest and the Nigerian government offering strategic incentives and strong regulation, this partnership could redefine the country’s mining landscape and unlock enormous economic value.
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