FG Endorses $400 Million Rare Earth Plant in Nasarawa, to Create Over 10,000 Jobs

The Federal Government of Nigeria has pledged its full support for a landmark $400 million Foreign Direct Investment (FDI) initiative to construct Africa’s largest rare earth and critical minerals processing plant in Nasarawa State.

The project, spearheaded by Hasetins Commodities Limited, is expected to generate over 10,000 jobs nationwide.

Minister of Solid Minerals Development, Dr. Dele Alake confirmed the government’s commitment during a press briefing in Abuja, describing the development as a major milestone in the country’s efforts to diversify the economy and maximize value from its vast mineral resources.

“The federal government is fully backing this investment as part of our strategic roadmap to reposition Nigeria as a key player in the global rare earth market,” Alake said. “This initiative aligns perfectly with President Bola Ahmed Tinubu’s renewed push for in-country beneficiation and job creation.”

The proposed facility will expand Nigeria’s rare earth processing capacity from 6,000 to 18,000 metric tonnes annually, making it the largest of its kind on the continent. It will process essential minerals used in high-tech industries such as electric vehicles, renewable energy technologies, electronics, and defence systems.

Hasetins Commodities has also committed to partnering with local miners, especially artisanal operators, to improve access to global markets. The company plans to establish a mineral buying centre in Karu, Nasarawa State, and conduct skills transfer programs for host communities.

According to the Minister, the plant’s impact goes beyond job creation, as it will also foster technology transfer, boost local industrialization, and support national security goals by reducing reliance on imported critical minerals.

The groundbreaking project is viewed as a significant vote of confidence in Nigeria’s reformed mining sector, which has recently implemented new measures such as mining marshals, improved licensing systems, and tighter environmental standards to attract and retain investment.