By Patience Chat Moses
In a bold move set to redefine its economic landscape, the Nigerian government has officially endorsed a $400 million foreign direct investment (FDI) to establish Africa’s largest rare earth and critical minerals processing plant. This initiative, spearheaded by Hasetins Commodities Limited, is slated for Nasarawa State in Nigeria’s North-Central region, promising to generate over 10,000 jobs nationwide and firmly establish Nigeria as a pivotal hub for critical metals on the continent.
The Minister of Solid Minerals Development, Dr. Dele Alake, whose Special Assistant on Media revealed this development, hailed the investment as a significant endorsement of President Bola Tinubu’s value-addition agenda. This agenda champions in-country mineral processing as a core strategy for job creation and economic diversification, moving Nigeria beyond mere raw material extraction.
Speaking during a courtesy visit from Hasetins Commodities Ltd’s Managing Director/CEO, Jidayi Ijudigal, and his delegation, Dr. Alake praised the company’s foresight and commitment. “With your collaboration, we are now witnessing the establishment of the largest rare earth and critical metals plant in Africa, right here in Nigeria,” the minister stated. “Your patriotic zeal confirms that our policies are on the right track and delivering real impact.”
Hasetins Commodities Ltd., which currently boasts a 6,000 metric tonne processing capacity, aims to double this output to an impressive 12,000 metric tonnes with the upcoming groundbreaking of the new facility. Beyond this flagship plant, the company is strategically investing in regional separation centres. This decentralised approach to beneficiation will further empower artisanal mining communities, integrating them into the formal value chain and boosting local economies.
Prince Jidayi commended recent sector reforms, including the introduction of mining marshals and streamlined licensing processes, noting their positive impact on investor confidence. Director of Corporate Affairs, Peter Butt, Hasetins’, echoed this sentiment, applauding Dr Alake’s focus on local value addition, which perfectly aligns with the company’s sustainable development model. Hasetins Commodities Ltd. specialises in critical metals vital for high-tech and defence applications, including rare earth elements and Platinum Group Metals (PGMs).
Redefining Nigeria’s Role in Global Supply Chains
This $400 million investment signifies far more than just a new industrial plant for Nigeria; it represents a strategic pivot with profound implications for the nation and the wider West African region.
For Nigeria, this project is a direct realisation of its ambition to diversify its economy away from oil dependency. By processing rare earth and critical minerals domestically, Nigeria will capture a much larger share of the value chain. The creation of over 10,000 jobs will directly address unemployment, particularly among the youth, and foster skill development in high-tech mineral processing. This also encourages the growth of ancillary industries, from logistics to engineering services.
The establishment of Africa’s largest processing plant positions Nigeria as a dominant player in the global critical minerals supply chain. West Africa is rich in various mineral resources, and this facility could become a regional processing hub, attracting raw materials from neighbouring countries. This reduces reliance on distant processing centres, thereby strengthening regional economic integration and enhancing the continent’s resilience in the face of global supply chain disruptions. It provides a strategic advantage, making West Africa a more attractive and reliable source for these essential materials.
This significant FDI signals to the international community that Nigeria is a viable and attractive destination for large-scale, high-value investments in the solid minerals sector. It is likely to stimulate further foreign investment in exploration, mining, and downstream processing across the region. Moreover, the project will bring advanced processing technologies and expertise to Nigeria, facilitating valuable knowledge transfer and capacity building within the local workforce.
Rare earth elements and critical minerals are indispensable for the growing global green economy, powering everything from electric vehicles and renewable energy technologies to advanced electronics. By enhancing its capacity to process these minerals, Nigeria is strategically positioning itself to meet this growing international demand, securing a vital role in future global industries and contributing to the global energy transition.
Reaffirming the government’s unwavering commitment, Dr Alake emphasised that the ministry would provide full institutional support for the project, describing it as a “strategic cornerstone in Nigeria’s industrial and economic transformation”. This initiative marks a definitive step towards Nigeria leveraging its abundant mineral wealth for sustainable national development and asserting its influence as a powerhouse in Africa’s emerging critical minerals landscape.