As the United States and China reach a tentative agreement on rare earth mineral and magnet exports, Nigeria is seizing a major opportunity to enter the global supply chain.
The Federal Government recently approved a landmark $400 million Foreign Direct Investment (FDI) to establish Africa’s largest rare earth and critical minerals processing plant in Nasarawa State.
This initiative positions Nigeria as a potential key player in the rare earth market, an industry vital to global technology and clean energy production. Beyond industrial growth, it offers the chance to reduce dependence on foreign imports, attract global partnerships, and drive domestic economic transformation.
The success of this venture will depend on how effectively Nigeria executes strategies around infrastructure, regulation, and sustainability to compete in this high-stakes global sector.
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