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Nigeria's government and the African Finance Corporation (AFC) have formalized a $1.3 billion partnership to enhance the mining sector. Key initiatives include an alumina refinery projected to process one million tonnes of bauxite annually, a nationwide geoscience mapping program, and a joint strategic investment vehicle for exploration.

The refinery is set to operate for approximately 20 years at 95% capacity, yielding 19 million tonnes of alumina. This investment aims to contribute $1.2 billion yearly to Nigeria's GDP and generate $8 billion in foreign exchange earnings. The partnership reflects ongoing reforms to attract private capital and strengthen the solid minerals sector.