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The Federal Nigerian government has promised full support for the $ 400 million foreign direct investment initiative (FDI) to establish the largest rare and critical mineral factory in Africa in the nasarawa state.
This development was announced by Dele Alake, Minister of Solid Mineral Development in a post on the official X platform (previously known as Twitter) on Sunday, June 22, 2025.
He praised Haseetins commodities, project funds, because it was in line with the campaign to increase the administrative value of the Tinubu Bola President.
“We have promised our support for the Initiative of Direct Foreign Investment (FDI) to establish the largest rare and critical mineral processing factory in Africa, driven by an investment of $ 400 million from Ltd’s Hasetins Commodities in the Nasarawa state.
“This project represents more than 10,000 new jobs, transfer of original skills, and significant steps towards processing our minerals in the country.
“Our awards are given to Prince Jidayi and his team for future views and are parallel to the vision of President Tinubu to add value and economic diversification.
“The federal government is fully committed to this project. We will provide all the institutional support needed because this kind of initiative brings us closer to our long -term national goals,” he wrote.
Explaining further, Segun Tomori, a special media assistant to the Minister in a statement entitled “The Birth of the Largest Earth Term Mineral Project in Africa in Nigeria” noted that the factory was funded by the Hasetins Commodities Ltd.
He explained that Prince Jidayi, Director of Executive and Chief Executive Officer (CEO) of the Hasetins Commodities, launched a planned construction during an honorary visit to the Minister.
Also read: Solid Mineral Revenue Checked by N32BN in 2 Years- Alake
Highlighting the importance of initiatives in strengthening investor confidence in the mining sector, Tomori revealed that Alake said the establishment of the factory would increase the transfer of skills and increase the contribution of the dense mineral sector for the economy.
The Minister praised the company’s strategic vision and an investment of $ 400 million in the Rare Earth metal factory, and praised Hasetin for supporting the goals of the federal government of domestic processing and mineral beneficiaries.
“I am happy that our ongoing involvement has peaked in this innovative initiative. With your collaboration, we are now witnessing the formation of the largest rare factory and critical metal in Africa, here in Nigeria,” Alake said.
“On behalf of the president, ministries, and nigerians, I praise your commitment to this vital sector. Your patriotic spirit confirms that our policy is on the right track and produces real results.”
The Minister reiterated the support of federal government institutional support for the project, emphasizing its harmony with the ministry’s vision to position dense minerals as a basis for industrial and economic growth.
In his remarks, CEO of Hasetins Commodities, Jidayi expressed his appreciation for ministerial leadership and reform, which he said significantly increased investor confidence and relieve access to the mining sector.
“We have observed the introduction of Marshal mining to fight illegal mining and reforms that have simplified the licensing process,” Jidayi said.
“These efforts have directly influenced our decision to invest large -magnitude in this project. Outside this mainstay factory, we also established a regional separation factory and empowering the community and local miners.”
Jidayi notes that the company’s model ensures the beneficiaries of initial stages by pre-separation metals locally, creating direct income for artisanal miners.
He added that this initiative included training, provision of protective equipment, and wider community involvement.
By: Babajide Okeowo
