Solid Minerals Sector Attracts $2.5bn FDI — Alake

By Micheal Chukwuebuka

Minister of Solid Minerals Development, Dele Alake revealed that within two and half years of President Bola Tinubu’s administration the solid minerals sector in Nigeria has attracted 2.5 billion dollars in Direct Foreign Investment, and advised the US and African countries to prioritize the establishment of regional energy hubs as a strategic pathway to accelerate cross-border mining industrialization and strengthen the supply chain of critical minerals essential for the global energy transition.

The minister at the ongoing Powering Africa Summit in Washington, D.C., United States also emphasized that sustainable partnership with Africa remains the fastest route to meeting rising global demand for critical minerals.

He called for the development of regional industrial corridors noting that similar belts —such as the Lagos–Abidjan corridor, could unlock vast mineral potential across the continent.

He highlighted reforms in the sector and measures to address insecurity in the mining industry.