The New Gold Rush: Nigeria’s Untapped Treasure

While Nigeria is not yet a major global supplier, its subsoil conceals a treasure trove of critical minerals such as lithium, cobalt, nickel, and rare earth elements- resources that power everything from electric vehicles to smartphones and solar panels distributed across different states. These resources are the backbone of the global energy transition, and countries worldwide are prompted to secure their supplies. Some of the key critical minerals found in Nigeria include:

• Lithium: Geological surveys have identified lithium-rich sites in Nasarawa, Kogi, Kwara, Ekiti, Cross River, and Bauchi. 
• Nickel and Cobalt: In 2015, an Australian firm discovered a significant volume of high-grade nickel deposits in parts of Kaduna, Kogi, and Plateau. Nigeria is estimated to possess five million metric tonnes of Nickel and one of Africa’s largest reserves of cobalt. According to the Nigerian Geological Survey Agency (NGSA), the majority of Nigeria’s nickel reserves are located in Kaduna, Kebbi, Nasarawa, and Taraba. 
• Rare Earth Elements (REEs): The key REEs found in Nigeria include Neodymium (Nd) (used in high – strength magnetics and various electronic applications),  Cerium (Ce) (used in catalyst and glass manufacturing), Lanthanum (La) ( used in carbon arc lights, flints for lighters applications), Praseodymium (Pr) (used in magnet and glass application),  Yttrium (Y) (used in phosphorus production,c, LED’s and display technologies. These REEs are often associated with mineral deposits such as bastnasite, monazite, and xenotime, which can be found in various geological formations across the country, particularly in the Central and Northern regions of Nigeria. 
• Tin and Tantalum: Tin has been mined and used in Nigeria as early as the 9th century, with exquisite bronze artifacts from three sites in the Igbo-Ukwu area of Anambra State. As of 2010, the estimated tin (cassiterite) reserve of Nigeria is at least 300,000 tonnes, with a substantial additional quantity buried beneath basalts and volcanic formations in the Jos Plateau. The overall tin resource is estimated to be at least double the amount of reserve with notable fields found in Jos-Bukuru, Riruwai, Kogo, Tibchi, and Dutsen wai, etc.

With the increasing global demand for these minerals, Nigeria has an opportunity to develop its mining sector responsibly and sustainably, potentially emerging as a key player in the global supply chain, provided it develops the right policies and infrastructure.  However, inadequate policies, weak enforcement, and unsustainable mining practices threaten to hinder its progress.

Unlocking Nigeria’s Mineral Potential: Mapping, Value Addition, and Sustainability

1. The Need for High-Level Geological Mapping

Nigeria cannot fully harness its critical mineral wealth without first understanding the scale and distribution of its resources. While historical exploration efforts have identified key deposits, a comprehensive high-resolution geological mapping program is urgently needed. It is noteworthy to mention the airborne geophysical survey operations carried out between 2005 and 2007 which mapped Block A, B and C, covering about 44% of Nigeria’s landmass. The survey collected data in magnetic, radiometric, gravity, and electromagnetic domains, mostly flown at a line spacing of 500 meters and a mean terrain clearance of 80 meters  

However the survey faced some setbacks until 2010 when the remaining 55% of the survey was completed owing to support from the World Bank. These data need to be revisited and given national priority to validate them and develop strategic exploration plans. was never completed.

2. Expanding the Mineral Value Chain

Beyond exploration, Nigeria must expand its mineral value chain to maximize economic benefits. Instead of merely extracting and exporting raw minerals, the country should prioritize local processing and refining. Establishing domestic lithium-ion battery plants, rare earth element separation facilities, and advanced metal refining industries would not only generate jobs but also strengthen Nigeria’s position in the global supply chain. Strategic partnerships with technology firms and industrial players will be crucial in achieving this transformation.

3. Ensuring Sustainability and Responsible Mining

Once Nigeria secures a clearer understanding of its mineral wealth and establishes a strong value-addition framework, sustainability considerations should follow. Responsible mining practices, environmental safeguards, and community engagement must be integrated into the sector’s long-term development. This ensures that economic growth does not come at the cost of environmental degradation or social displacement.