Nigeria’s Mining Reforms: Unlocking Investment And Growth

Over the past two years, Nigeria has implemented key policies and reforms to revitalize its mining industry, attract investment and strengthen the sector’s contribution to GDP. Recent government-led initiatives have streamlined licensing processes, removed bottlenecks and simplified market entry for international investors, enhancing production across the country’s 44 solid mineral types. As Africa’s premier mining investment event, African Mining Week (AMW) 2025 will convene Nigerian and African stakeholders with global investors and industry leaders to drive deal-making and accelerate sector growth. 

Launch of Mineral Resources Decision Support System 

In May 2024, the Nigerian Geological Survey Agency unveiled the Mineral Resources Decision Support System to provide global investors with easy access to geological and policy data. The platform markets Nigeria’s vast mineral resources and critical infrastructure, assisting investors in making informed decisions about the country’s mining sector. By enhancing data transparency and accessibility, the system aims to streamline investment processes and boost investor confidence in Nigeria’s mining industry.

Restructuring of Ministry 

To improve efficiency, Nigeria restructured the Ministry of Mines and Steel Development in August 2023, creating two separate entities. The Ministry of Solid Minerals Development focuses on upstream activities and investment facilitation, while the Ministry of Steel Development oversees the development of steel and metallic resources to drive industrial growth. This restructuring aims to enhance sector-specific governance, attract targeted investments and accelerate the country’s mineral and steel value chain development.

Approval of Nigerian Minerals & Mining Bill 

Approved in April 2023 and currently under public review, the Nigerian Minerals & Mining Bill aims to introduce incentives for foreign investors while strengthening local content requirements. Once enacted, it will become the sector’s primary legal framework, enhancing transparency and investor confidence. The bill is also expected to modernize regulatory oversight, ensuring sustainable resource management and aligning Nigeria’s mining sector with global best practices.

Implementation of Nigeria Mineral Value Chain Regulations 

Implemented in July 2021, the Nigeria Mineral Value Chain Regulations mandates local processing of raw minerals such as gold and lithium, encouraging downstream investment. Following this policy, China’s Avatar Energy Materials Company launched a 4,000-ton-per-annum lithium processing facility in Nasarawa State in May 2024, while Ming Xin Mineral Separation Nig Ltd. is developing a lithium processing plant in Kaduna State to support EV e battery production. These investments mark a significant step toward positioning Nigeria as a key player in the global critical minerals supply chain. Against this backdrop, AMW 2025 will provide a platform for industry leaders to explore Nigeria’s evolving mining landscape and engage with global investors.