Lagos Records Another Big One As Gold Refinery Commences Operation

The Federal Government has officially announced the commencement of operations at a high-purity gold refining plant located in Lagos. This milestone was shared in a statement by Segun Tomori, the media aide to the Minister of Solid Minerals Development, Dr. Dele Alake. The opening of the refinery marks a significant shift in Nigeria’s economic strategy, focusing on domestic processing rather than the export of raw mineral resources.

According to Dr. Alake, this project is a cornerstone of the Federal Government’s value-addition policy. By refining gold locally to high-purity standards, Nigeria aims to boost its national revenue, create specialized jobs, and increase its competitiveness within the global mining industry. The refinery is expected to serve as a hub for mineral processing, positioning Nigeria as a leader in the sector across the African continent.

The announcement was made during a high-level bilateral meeting between Dr. Alake and Saudi Arabia’s Minister of Industry and Mineral Resources, Mr. Ibrahim Al-Khorayef. The meeting took place ahead of the Future Minerals Forum in Riyadh, where both nations discussed strengthening cooperation in industrialization. The Minister highlighted that the operational Lagos plant is clear evidence that Nigeria’s mineral policies are yielding tangible economic results.

​In addition to the Lagos facility, the government revealed that three other gold refineries are currently at various stages of development across the country. There is also a $600 million lithium processing plant in Nasarawa State that is reportedly ready for commissioning. These combined efforts signal a comprehensive approach to diversifying the Nigerian economy away from its traditional reliance on oil and gas.

The move is expected to attract further foreign investment and provide a structured market for local miners. By establishing these refineries, the government hopes to curb the illegal exportation of raw minerals and ensure that the country retains the full economic value of its natural wealth. The Lagos refinery stands as a symbol of this new industrial era, promising long-term growth for the state and the nation.