Vice President Kashim Shettima stated that Nigeria's mining sector has attracted over $2.6 billion in foreign direct investment within the past 30 months. He credited reforms under President Bola Tinubu's administration for improving the sector's appeal, citing efforts to de-risk the mining environment and enforce local value addition as mandatory in licensing. Speaking on Wednesday in Abuja, Shettima said Nigeria was moving beyond serving as a source of raw materials.
The Vice President made the remarks during the commissioning of the Kursi Group Corporate Headquarters, established by businessman Abdulfatai Gambari. Shettima described Nigeria as becoming a global hub for mineral refinement, beneficiation, and value-driven industrial growth. He emphasized that nations achieve economic respect by mastering the value chain of their natural resources.
Highlighting the role of the Kursi Group, Shettima noted its contribution to processing lithium for the global green energy transition and refining gold to international standards within Nigeria. He said such enterprises support the country's industrial ambitions. Following the event, he toured the facility alongside Kwara State Governor AbdulRahman AbdulRazaq and other dignitaries.
The facility includes a refining factory and a modern minerals marketing and tracking platform. Attendees included mining investors, traditional leaders, and religious figures from Kwara State and other regions. The event was confirmed to have taken place on 6th May, 2026, according to a statement by Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications in the Office of the Vice President.
Shettima celebrates $2.6bn in mining investment while the sector remains opaque to most Nigerians who see no direct benefit. The focus on lithium and gold refinement contrasts with widespread illegal mining and lack of community engagement in mineral-rich areas. If value addition is now policy, then communities hosting mines should be first in line for jobs and infrastructure from firms like Kursi Group. Yet no timeline or mechanism was offered for how local populations will share in these gains.
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