By Faridat Salifu
The Federal Government has pledged full institutional support for a $400 million foreign direct investment aimed at establishing Africa’s largest rare earth and critical minerals processing plant in Nasarawa State.
Minister of Solid Minerals Development, Dr. Dele Alake, announced the development on Sunday via his official X (formerly Twitter) handle, describing it as a milestone for Nigeria’s solid minerals sector.
The project is being spearheaded by Hasetins Commodities Ltd and is expected to generate over 10,000 jobs and drive significant skills transfer across key mining and processing operations.
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Alake said the initiative aligns with President Bola Tinubu’s Renewed Hope Agenda, particularly the push for economic diversification and domestic value addition in the extractives industry.
He acknowledged Prince Jidayi Ijudigal and his team for their strategic foresight and partnership in realising the national vision for sustainable solid minerals development.
According to the minister, processing minerals locally rather than exporting raw materials will enhance revenue, reduce capital flight, and strengthen Nigeria’s position in the global energy transition value chain.
The Nasarawa plant, once operational, will play a key role in Nigeria’s growing rare earth and critical minerals market, which is central to clean technology, electric vehicles, and advanced manufacturing.
Dr. Alake reiterated the government’s commitment to providing regulatory and institutional backing to ensure the success of the investment and similar future projects.
He noted that such investments bring Nigeria closer to its long-term industrialisation goals and enhance the nation’s competitiveness in the global mineral economy.
