Four Nigerian ministries convene global investors in Abuja for the maiden Nigeria NOW launch

The Federal Ministry of Solid Minerals Development is collaborating with EnergyNet to host the inaugural Nigeria NOW! conference in Abuja, aimed at attracting global investors to the energy, infrastructure, and mining sectors. Scheduled for 19-20 November at the Bola Ahmed Tinubu International Conference Centre, the event is expected to draw between 500 and 600 delegates.

The Federal Ministry of Solid Minerals Development has pledged to maintain its involvement throughout the event, rather than merely attending it. Dr. Dele Alake, the Honourable Minister of Solid Minerals Development, explained that the participation of four ministries is necessary to address various aspects of investment, such as infrastructure, licensing, financing, technology, security, and market access.

This approach ensures that investors receive comprehensive guidance on all aspects of a project. The Nigerian government has also implemented a rule that no mining license will be issued without a plan for a local processing plant, which has resulted in significant investments, including a $1.3 billion partnership with the Africa Finance Corporation for an alumina refinery, a $600 million lithium processing plant near the Kaduna-Niger border, and a $200 million lithium refinery outside Abuja.

The first operational lithium plant in Nasarawa State began processing 6,000 tonnes of ore daily with an investment of $250 million. The sector's revenue reached over 38 billion naira in 2024, up from 6 billion the previous year. Additionally, Nigeria is pursuing decentralized decision-making in the power sector, with the Nigerian Electricity Regulatory Commission transferring regulatory oversight to sixteen subnational commissions.

Dr. Alake emphasized that the era of exporting raw minerals from pit to port is ending. The Nigeria NOW! Expo will bring together government officials, investors, project developers, financial institutions, and development partners to discuss projects, capital, and partnerships.