Nigeria seeks investment and local processing for gold mining sector

Nigeria is pushing for increased investment and the establishment of domestic processing facilities to maximize the economic value of its solid minerals sector. At Nigerian Mining Week 2026 in Abuja, Segilola Resources Operating Limited (SROL) emphasized that unlocking the country’s gold mining potential requires patient capital, effective regulation, and strong community partnerships.

SROL, a subsidiary of Thor Explorations Ltd and operator of Nigeria’s first commercial gold mine, highlighted that commercially viable operations are possible in the country. The company stressed the importance of technical discipline and environmental management, such as water conservation and recycling, to support responsible production.

Complementing these industry calls, the Nigerian Federal Government has reaffirmed that investors must build in-country processing industries rather than focusing solely on raw mineral exports. Speaking at the 2026 Berlin Global Dialogue, Minister of State for Foreign Affairs Amb. Sola Enikanolaiye stated that the government aims to retain greater economic value and ensure mining communities benefit directly from resource extraction. He noted that the government is implementing stricter environmental oversight and community rights protections to avoid past mistakes seen in other regions.