The Federal Government has firmly rejected claims made by the Northern Elders Forum alleging plans to establish a government-owned gold refinery in Lagos. Officials from the Ministry of Solid Minerals Development dismissed the allegations as entirely false and misleading, clarifying that the referenced refinery is a private-sector initiative.
They emphasized that the federal government neither owns nor controls the project, and therefore the question of violating any federal character principle does not arise.
According to a detailed statement from the ministry, the gold refinery in question is a venture undertaken by the private mining company Kian Smith. The government commended the company’s leadership for their perseverance in delivering the project but stressed that its location in Lagos was a decision made solely by the private investor.
Government policy cannot dictate where a private business chooses to establish its operations, and officials pointed out that the Minister of Solid Minerals Development never announced the establishment of a state-owned refinery.
The ministry explained that this private investment aligns with the government’s broader value-addition policy for the solid minerals sector. This policy aims to discourage the export of raw materials and instead promote local processing and manufacturing within Nigeria.
The Lagos refinery is presented as a successful example of this policy attracting private capital to build domestic industrial capacity, which benefits the national economy.
Beyond this single project, the government highlighted that several other major private investments have been stimulated by recent reforms. These include a six hundred million dollar lithium plant and a four hundred million dollar rare earth minerals plant in Nasarawa State, alongside a two hundred million dollar lithium facility in Abuja.
Officials stated these projects are creating thousands of jobs and strengthening Nigeria’s non-oil revenue base.
In its concluding remarks, the Federal Government called for support from all regions for its economic diversification agenda.
The Ministry of Solid Minerals Development reiterated its commitment to encouraging similar private investments across the country and urged the Northern Elders Forum to collaborate in building a stronger, self-reliant economy for the benefit of all Nigerians.
