In a bold step toward economic diversification and
industrialisation, the Federal Government has endorsed a transformative $400 million investment by Hasetins Commodities Limited to establish Africa’s largest rare earth and critical minerals processing plant in Nasarawa State.
This is contained in a statement issued By Kamorudeen Olawale Yusuf
Personal Assistant on Special Duties to the President

This landmark initiative according to the statement is not only a testament to Nigeria’s renewed commitment to harnessing its natural resources but also a strategic move to position the country as a continental hub for in-country mineral processing.

The project, which is projected to create over 10,000 jobs, marks a significant milestone in President Bola Ahmed Tinubu’s agenda to revitalise the solid minerals sector as a driver of sustainable growth. By fostering value addition and reducing dependence on raw mineral exports, the administration aims to turn Nigeria’s mining potential into a tangible economic powerhouse.

Minister of Solid Minerals Development, Dr. Dele Alake, lauded Hasetins Commodities for aligning with the national vision of self-reliant industrial development. According to the Minister, the Nasarawa plant stands as a model of what responsible investment can achieve when public policy and private enterprise intersect strategically.

“This initiative will not only bring economic value but also deliver immediate and long-term benefits to local communities through job creation, skills transfer, and increased investor confidence,” Dr. Alake noted.

He also highlighted the administration’s dedication to creating an enabling environment for investors, citing the recent establishment of mining marshals to improve security in mining areas and the simplification of licensing procedures to ease the entry of credible operators into the sector.

At the helm of this ambitious project is Hasetins CEO, Prince Jidayi, who emphasised the company’s confidence in Nigeria’s mining future. He credited recent sector reforms as pivotal in the decision to site such a high-capacity facility in the country.

“President Tinubu’s reforms have sent a clear message that Nigeria is ready for serious business. The introduction of security measures and streamlined processes has created a climate of confidence that we believe is vital for sustainable investment,” Prince Jidayi stated.

In addition to the flagship Nasarawa plant, Hasetins plans to roll out a network of regional processing hubs. These hubs will not only expand capacity—from an initial 6,000 metric tonnes to a future 18,000 metric tonnes—but also democratise access to modern processing tools for artisanal and small-scale miners. Training programs and equipment support will further empower local miners to operate safely and profitably.

The economic impact of the Nasarawa rare earths plant goes far beyond the mining sector. With over 10,000 direct and indirect jobs expected to be created, the project is set to uplift communities, enhance Nigeria’s technological capabilities, and boost foreign exchange earnings.

This investment underscores the Tinubu administration’s commitment to turning natural resource wealth into inclusive prosperity. By encouraging domestic processing and regional value chains, Nigeria is no longer content with being just a supplier of raw materials—it is now laying the groundwork to become a leader in high-value mineral exports and industrial development.

As the first foundation stones are laid in Nasarawa, the ripple effects of this venture will be felt across the nation, lighting a path toward a more resilient, diversified, and self-sustaining Nigerian economy.