Nigeria Discovers New Mineral Deposits to Boost Wealth Beyond Oil

By Adedapo Adesanya

Nigeria has announced the discovery of new deposits of valuable copper, lithium, and rare earth minerals, boosting efforts to further diversify the country’s economy away from oil.

The Federal Ministry of Solid Minerals Development received a new report identifying Nigeria’s abundant lithium, copper and bauxite deposits as strategic resources capable of accelerating the country’s transition to clean energy and supporting domestic industrialisation.

The report, presented on Monday in Abuja by the Council for Critical Minerals Development in the Global South, outlines how Nigeria can leverage its mineral wealth to meet growing demand for renewable energy technologies while retaining more value within the country.

According to a statement by the minister’s Special Assistant on Media, Mrs Lara Owoeye-Wise, the report was formally handed over to the Minister of Solid Minerals Development, Mr Dele Alake, at the State House Conference Centre.

The report comes days after the Minister, Mr Dele Alake, announced the discovery of what the government described as a world-class polymetallic mineral province in Kaduna State containing deposits of platinum group metals, gold, nickel, copper, lithium and rare earth elements.

The minister said the discovery, verified by the Nigerian Geological Survey Agency (NGSA), ranks among the most significant developments in Nigeria’s mining sector in recent years and strengthens the country’s critical minerals potential.

The latest report examines Nigeria’s projected demand for solar photovoltaic (PV) systems, battery storage technologies and electric vehicles alongside current mineral production and trade patterns.

It concludes that the country’s deposits of lithium, copper and bauxite closely match the minerals required to support the transition to cleaner energy sources.

According to the statement, the report also identifies existing gaps in Nigeria’s mineral value chain and proposes policy measures to maximise the economic benefits of the country’s natural resources.

Receiving the report, Mr Alake said it provides practical policy guidance for Nigeria’s efforts to transform its mineral resources into a foundation for green industrial development.

“By mapping domestic demand, supply and trade patterns, this report provides mineral-specific policy pathways to leverage Nigeria’s resources for our own green industrialisation,” he said.

He added that the report aligns with the ministry’s broader objective of ensuring that Nigeria moves beyond exporting raw minerals to developing local industries that create jobs and add value to the economy.