By Anscella Obike
Kaduna State has launched a $150 million Green Mining Investment Fund aimed at accelerating early-stage exploration of critical minerals and enhancing its position as Nigeria’s leading destination for global mining investment.
The announcement was made on the sidelines of the G20 Summit in Johannesburg, the first such gathering hosted on African soil, where the Kaduna State Government signed a Memorandum of Understanding (MoU) with global advisory firm Core International. The signing took place during an investment forum organised by the Nigerian Investment Promotion Commission (NIPC).
Under the agreement, Core International and the Kaduna Mining Development Company (KMDC) will jointly structure the Fund, secure anchor capital, and make it fully operational by the end of the first quarter of 2026, according to a joint statement released after the signing.
Officials said the Fund is designed to tackle one of the most significant obstacles facing Nigeria’s mining sector: the scarcity of early-stage, risk-tolerant financing required to convert potential mineral prospects into viable, bankable projects. The private sector–led vehicle will provide support for drilling, resource definition, and preliminary project development focused on minerals critical to the global energy transition, particularly lithium, rare earth elements (REEs), and gold.
Explaining the strategic rationale for unveiling the initiative at the G20 Summit, officials noted that the move aligns Kaduna’s ambitions with the bloc’s agenda on securing supply chains for critical minerals and expanding clean energy infrastructure across developing economies.
“This Fund is the mechanism that transitions Kaduna from having potential to realising value,” said Shuaibu Kabir Bello, managing director of KMDC. “Our commitment of capital signals to global investors that we are not just seeking funding, we are sharing exploration risk, providing data and building a transparent, modern mining sector.”
Suleiman Zakari, managing partner at Core International, described the partnership as a “secure bridge for global capital”, adding that the Fund is being structured to meet high international benchmarks for governance, transparency, and co-investment.
“By signing this agreement at a moment when major economies are racing to secure critical minerals, Kaduna is sending a strong message: it is ready, organised, and investment-grade,” Zakari stated.
The launch marks the culmination of Governor Uba Sani’s State Exploration Acceleration Programme, which includes new geological surveys, streamlined regulatory processes, and comprehensive investor facilitation. Officials say Kaduna now offers one of the most de-risked and integrated investment environments in Nigeria’s solid minerals sector.
By providing both geological data and co-financing, the Fund is expected to shorten exploration timelines, attract strategic partners, and unlock billions of dollars in long-term mineral development opportunities.
With global demand for battery metals and energy-transition minerals surging, Kaduna is positioning itself as a key frontier jurisdiction capable of supplying high-value minerals to international markets while offering investors clarity, partnership and significantly reduced risk.
