Nigeria has pledged its support for a Foreign Direct Investment (FDI) initiative powered by a $400 million investment from Hasetins Commodities Ltd in Nasarawa State to develop Africa’s largest rare earth and critical minerals processing plant.
The announcement was made by the Honourable Minister of Solid Minerals, Dele Alake, on Sunday 22 June, 2025.
The project will provide “over 10,000 new jobs” as well as, a huge step towards processing the country’s minerals domestically.
The Minister made known the Federal Government’s commitment to the project, saying, all necessary institutional support will be made available because initiatives such as this will help Nigeria reach faster its “long-term national objectives”.
Announcing on his official X account, Dele Alake said: “We have pledged our support for a Foreign Direct Investment (FDI) initiative to establish Africa’s largest rare earth and critical minerals processing plant, driven by a $400 million investment from Hasetins Commodities Ltd in Nasarawa State.
“This project represents over 10,000 new jobs, genuine skills transfer, and a significant step toward processing our minerals domestically.
“Our appreciation goes to Prince Jidayi and his team for their foresight and alignment with President Tinubu’s vision for value addition and economic diversification.
“The Federal Government is fully committed to this project. We will provide all necessary institutional support because initiatives like this bring us closer to our long-term national objectives.”
