The European Union (EU) is exploring opportunities to deepen trade and investment ties with Nigeria, particularly in the solid minerals sector, as part of its broader strategy to diversify economic partnerships and support the global transition to green energy.
Gautier Mignot, EU Ambassador to Nigeria and the Economic Community of West African States (ECOWAS), made this known during a courtesy visit to the Minister of Solid Minerals Development, Dr. Dele Alake, in Abuja on Tuesday.
According to a statement from the ministry, Ambassador Mignot commended the Nigerian government’s ongoing reforms in the mining sector, noting that the EU delegation aims to gain better insight into the country’s mineral landscape and identify areas of mutual interest and collaboration.
In response, Minister Alake reaffirmed Nigeria’s readiness to work closely with EU member states and investors to unlock the country’s vast mineral resources for shared economic prosperity.
“Given our longstanding and cordial relationship with the EU, the time is right to transform goodwill into concrete, actionable projects in the solid minerals sector,” Alake said.
Highlighting Nigeria’s abundant endowment of critical minerals, the minister noted that the country possesses high-grade lithium, cobalt, copper, and other strategic resources essential for the global shift towards clean energy technologies such as electric vehicles, solar panels, and battery production.
“Even with the limited areas explored so far, Nigeria has over $700 billion worth of mineral deposits. This presents a massive investment opportunity, and we encourage European investors to key into it,” he stated.
Alake also outlined a series of investment incentives designed to attract credible partners, including tax waivers on mining equipment, the right to full repatriation of profits, the establishment of dedicated mining marshals for improved security, and streamlined licensing processes.
However, he emphasised that local value addition remains a non-negotiable requirement for obtaining mining licenses, as it is key to economic development, job creation, technology transfer, and beneficiation.
“Any investor interested in our sector must present clear plans for local processing. That is the only way we can unlock the real potential of our mineral wealth for national development,” the minister added.
In line with the government’s renewed focus on sustainability and transparency, Alake revealed that mechanisms are being implemented to ensure traceability of all minerals extracted in Nigeria—whether raw, semi-processed, or finished. These include satellite imaging, pre-shipment inspections, and stricter port surveillance.
“If we establish effective tracking systems with international cooperation, we can significantly curb illegal mineral exports and ensure Nigeria benefits from its resources,” he said.
Responding, Ambassador Mignot assured the minister that the EU would engage with its member states and encourage European companies to explore strategic partnerships in Nigeria’s mining industry. He reaffirmed the EU’s commitment to fostering sustainable, transparent, and mutually beneficial trade relationships with Nigeria.
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