The Federal Government has dismissed claims that it sited a gold refinery in Lagos, describing the assertion as misleading and inaccurate.
In a statement issued by the Ministry of Solid Minerals Development, the government clarified that the Lagos gold refinery was not established by the Federal Government but is a privately owned investment facilitated by policy reforms in the solid minerals sector. The ministry explained that its role was limited to creating an enabling regulatory and investment environment that attracted private capital, not directly siting or owning the facility.
The ministry said the clarification became necessary following comments attributed to the Nigeria Economic Forum, which suggested that the Federal Government was responsible for locating the refinery in Lagos. According to the ministry, such claims misrepresent the facts and undermine the contributions of private investors driving growth in the sector.
It stressed that the current administration’s focus is on encouraging value addition through private sector led processing and manufacturing of solid minerals across the country, rather than government ownership of industrial facilities.
The ministry further noted that ongoing reforms have attracted several large scale investments in mineral processing nationwide, creating jobs and reducing the export of raw minerals. It urged stakeholders, including the NEF, to engage constructively and support the efforts of President Bola Ahmed Tinubu’s administration to build a more diversified and self reliant economy.
The Federal Government reaffirmed its commitment to transparency and accurate public communication, while restating its resolve to deepen reforms that will unlock the full potential of Nigeria’s solid minerals sector.