By Ghazali Ibrahim
A new $400 million foreign direct investment into Nigeria’s mining sector is turning heads not just for its scale, but for what it signals which is Nigeria’s largely untapped gemstone and rare earth resources are finally stepping into the global spotlight.
The investment, earmarked for Africa’s largest rare earth and critical minerals processing plant to be sited in Nasarawa State, is a landmark move that could redefine the country’s role in the global mining ecosystem.
While oil has dominated Nigeria’s resource narrative for decades, the country is sitting on a dazzling trove of precious minerals and gemstones, many of which remain unknown or underexploited, even within its borders.
From the sapphire fields of Kaduna to the emerald veins of Jos, Nigeria’s geological diversity is attracting global attention.
According to mining experts, this $400 million plant is just a foothold into what could become a multi-billion-dollar mining revolution and tech boom.
Rare earth minerals like niobium and barite are essential components in electric vehicles, smartphones, aerospace technologies, and military hardware.
Until now, countries like China have dominated global production, but Nigeria’s emergence as a viable supplier could shift global dynamics.
More importantly, it could bring significant economic and infrastructural benefits to local communities including jobs, development, and increased global relevance.
While rare earth minerals drive the headlines, gemstones are quietly emerging as another lucrative frontier for Nigeria.
Here’s a look at just how widespread and valuable the country’s mineral wealth is:
Tourmaline (Ijero Ekiti) is prized for its vivid greens and pinks, it’s already making waves in international markets.
Sapphire (Kaduna) is deep blue hues comparable to those from Sri Lanka and Madagascar.
Emerald found in Jos is rich green stones that are being sought after by jewelers worldwide.
Aquamarine & Morganite located in Oyo is serene blues and romantic pinks perfect for high-end jewellery.
Benitoite located in Bauchi state is previously thought exclusive to California, this rare blue diamond which puts Nigeria on the global collector’s map.
Goshenite found in Nassarawa, a diamond alternative, quietly being mined in the same state where the new processing plant will be built.
Niobium in Plateau is a critical mineral in tech and defense industries.
Barite discovered in Cross Rivers is key to oil drilling, heavily used in Nigeria’s own energy sector.
Sphalerite found in Zamfara is known for its its fiery sparkle which makes it a gem and an industrial mineral all in one.
Until now, much of this mineral wealth has been exported raw, losing massive value.
The new Nasarawa plant is expected to change that, by allowing Nigeria to process its minerals locally and tap into global value chains in technology, clean energy, and luxury goods.
