In a major push towards industrialisation and economic diversification, the Federal Government has thrown its weight behind a $400 million investment by Hasetins Commodities Ltd to establish Africa’s largest rare earth and critical minerals processing plant in Nasarawa State.
The ambitious project is expected to generate over 10,000 direct and indirect jobs, significantly boost local value addition, and position Nigeria as a key player in the global rare earth market. Rare earth elements are essential components in advanced technologies such as electric vehicles, renewable energy systems, and military hardware.
Minister of Solid Minerals Development, Dr. Dele Alake, described the initiative as a clear reflection of President Bola Ahmed Tinubu’s reform agenda, which prioritizes sustainable resource management, economic expansion, and enhanced investor confidence.
“This project is a product of the renewed confidence international and local investors have in Nigeria's solid minerals sector under President Tinubu’s leadership,” Alake said. “We are determined to end the era of raw material exportation and instead create opportunities for in-country processing and manufacturing.”
Hasetins Commodities Ltd noted that the administration’s ongoing efforts to strengthen mining regulations and combat illegal mining have created a conducive environment for investment in the sector.
With global demand for critical minerals on the rise, the Nasarawa plant is poised to become a strategic hub for processing minerals crucial to clean energy technologies and digital infrastructure.
The facility also aligns with Nigeria’s broader agenda to leverage its abundant natural resources for inclusive economic growth, technology transfer, and sustainable development.
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