- FG Denies Owning Lagos Gold Refinery
- …says project is private
- The ministry pointed to similar projects across the country, including a $600 million lithium plant in Nasarawa
The recently established gold refinery in Lagos is owned by a private company, the Federal Ministry of Solid Minerals Development has confirmed.
Eko Hot Blog reports that in a statement on Sunday in Abuja, Segun Tomori, spokesman for Minister Dele Alake, clarified that the federal government does not own or operate any gold refineries.
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He said the minister had been “very clear, concise and emphatic” in announcing the inauguration of the refinery, noting that other refineries are also in development across the country, all under private ownership.
The Lagos refinery is the initiative of Kian Smith, a fully privately-owned mining company, and aims to develop the local gold industry through innovative practices. The ministry highlighted that private companies decide independently where to locate their operations as part of their business strategies.
The federal government commended the company’s founder and managing director, Nere Emiko, for establishing the refinery. Officials noted the facility reflects the solid minerals sector’s response to the government’s value-addition policy, which discourages raw mineral exports while promoting local processing and manufacturing.
The ministry pointed to similar projects across the country, including a $600 million lithium plant in Nasarawa, a $400 million rare-earth plant in the same state, and the $200 million ASBA lithium plant in Abuja, as evidence of the policy’s effectiveness. These facilities have created thousands of jobs and attracted significant foreign investment.
“The Ministry of Solid Minerals Development shall continue to encourage more mining companies to establish processing and manufacturing plants nationwide,” the statement said. “We urge NEF to turn a new leaf and join the efforts of President Bola Ahmed Tinubu to build a stronger, self-reliant economy that meets the needs of the Nigerian people.”
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