FG Denies Owning Lagos Gold Refinery, Says Project Is Private
By AUGUSTINA McSOLOMON-OGHAKPERUO
FG Says Lagos Gold Refinery Not Government-Owned
THE Federal Government has refuted claims by the Northern Elders Forum (NEF) that it established a gold refinery in Lagos, insisting the facility is a private investment.
The clarification was issued by the Ministry of Solid Minerals Development following a statement by NEF alleging a breach of the federal character principle.
In a statement released in Abuja, Segun Tomori, Special Assistant to the Minister of Solid Minerals Development, Dele Alake, said the allegation was misleading and not supported by facts.
Minister Made No Such Announcement
Tomori said the minister never announced the establishment of a Federal Government-owned gold refinery in Lagos or in any other part of Nigeria.
He explained that the minister’s remarks focused on the upcoming inauguration of a privately owned refinery, alongside plans by other investors to establish similar facilities nationwide.
Kian Smith Behind Project
According to the ministry, the Lagos refinery is the initiative of Kian Smith, a private Nigerian mining firm, aimed at strengthening local gold processing capacity.
The ministry said the Federal Government merely acknowledged the company’s efforts, noting that it does not dictate the location of private investments.
Part of Value-Addition Drive
Tomori said the refinery supports the government’s value-addition policy, which encourages local processing of solid minerals to boost industrial growth.
He cited major investments stimulated by the policy, including lithium and rare-earth plants valued at over $1 billion in Nasarawa State and Abuja.
Ministry Defends Sector Reforms
The ministry said reforms over the past two years have created an enabling environment for mining investments and will continue to attract processing facilities across the country.
It called on NEF and other stakeholders to support policies aimed at economic diversification and sustainable development.
