Vice President Kashim Shettima has disclosed that Nigeria’s mining sector attracted more than $2.6 billion in Foreign Direct Investment within the last 30 months, attributing the growth to reforms introduced by the administration of Bola Ahmed Tinubu.
Shettima said the Federal Government’s efforts to de-risk the mining environment and prioritise local value addition were beginning to deliver measurable results across the sector.
Key Highlights
- Nigeria’s mining sector attracts over $2.6bn in FDI
- Shettima credits Tinubu administration’s reforms for growth
- Government prioritises local mineral processing and beneficiation
- Nigeria targets global role in mineral refinement industry
- Kursi Group unveils new headquarters and refining facility in Abuja
The Vice President made the remarks in Abuja during the commissioning of the headquarters of Kursi Group, established by Ambassador Abdulfatai Yahaya Seriki Gambari.
According to Shettima, the Federal Government has made local processing and beneficiation of mineral resources a key condition for licensing within the mining industry, stressing that Nigeria would no longer remain merely an exporter of raw materials.
In a statement issued by Stanley Nkwocha, the Vice President said Nigeria was positioning itself as a global hub for mineral refinement, industrial processing, and value-driven growth.
He noted that enterprises involved in refining lithium for the global green energy market and processing gold to international standards within Nigeria would support the country’s industrialisation agenda.
Shettima stated that nations achieve economic strength by mastering the value chain of their natural resources through local production, industrial development, and export expansion.
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He explained that the administration’s reforms were strategically designed to reposition mining as a major driver of industrial growth, employment generation, and foreign exchange earnings.
According to him, attracting investors into local refining and mineral processing would help Nigeria maximise the economic value of its mineral resources while strengthening the broader industrial sector.
Following the commissioning, the Vice President toured the Kursi Group facility alongside AbdulRahman AbdulRazaq and other dignitaries.
The facility includes a mineral refining factory and a modern minerals marketing and tracking platform aimed at improving transparency, accountability, and operational efficiency within the mining sector.
The event attracted investors, traditional rulers, religious leaders, and stakeholders from Kwara State and other parts of the country.
