The European Union is setting its sights on Nigeria’s solid minerals sector as part of its strategic push to broaden trade relations and secure access to critical resources. The EU’s interest was confirmed during a courtesy visit by its Ambassador to Nigeria and ECOWAS, Gautier Mignot, to Nigeria’s Minister of Solid Minerals Development, Dr Dele Alake.
Ambassador Mignot praised Nigeria’s ongoing efforts to revamp its mining industry and explained that the EU is eager to understand the sector more deeply and identify areas for collaboration. His visit signals a growing intent by the EU to forge stronger economic ties with Africa’s largest economy through mutually beneficial partnerships.
Minister Alake welcomed the move, saying Nigeria is fully open to engaging with EU member states and private investors to unlock the vast potential hidden within its mineral-rich landscape. He emphasized that the timing is right for the EU and Nigeria to shift from goodwill to action by outlining tangible steps that can drive progress.
According to Dr Alake, Nigeria holds significant reserves of high-demand minerals such as lithium, cobalt, and copper. These are crucial to the world’s transition to clean energy, playing key roles in manufacturing solar panels, electric vehicles, and advanced battery systems. He noted that even with limited exploration to date, the estimated value of Nigeria’s mineral deposits stands at over $700 billion, presenting a major opportunity for global investors.
To make the sector more attractive, the Nigerian government is rolling out investment incentives that include tax exemptions on mining equipment, profit repatriation policies, enhanced security through a dedicated mining marshal corps, and simplified licensing procedures. However, the Minister made it clear that local value addition is non-negotiable. He stressed that any serious investor must contribute to local processing and beneficiation, which are essential for job creation, skill development, and technological advancement.
The government is also introducing new frameworks to ensure traceability and accountability in mineral extraction. Dr Alake revealed that measures are being developed to monitor every stage of mineral movement — from raw material to finished product — to prevent smuggling and illegal mining. He explained that enforcing traceability with international cooperation will help Nigeria curb the export of unregulated minerals, ensuring that the country fully benefits from its natural wealth.
With the EU’s interest now on the table and Nigeria putting forward a compelling case backed by strong incentives and rich resources, attention is turning to how quickly deals can be sealed. As investment deadlines draw closer, both parties appear eager to turn discussions into action.
