CRG WELCOMES $1.3 BILLION ALUMINA REFINERY PACT, CALLS FOR TRANSPARENCY AND ACCOUNTABILITY IN SOLID MINERALS SECTOR
The Centre for Responsible Governance (CRG) has welcomed the Federal Government’s $1.3 billion investment partnership with the Africa Finance Corporation (AFC) to develop an alumina refinery and strengthen Nigeria’s solid minerals sector, describing the initiative as a major step toward economic diversification and industrial growth.
In a statement issued on behalf of the Centre, CRG noted that the project, which includes the construction of a one-million-tonne-per-year alumina refinery and a national geoscience mapping programme, has the potential to significantly enhance Nigeria’s mineral value chain, reduce dependence on raw material exports, and boost long-term industrial capacity.
CRG further observed that the refinery is expected to contribute an estimated $1.2 billion annually to Nigeria’s Gross Domestic Product and generate substantial foreign exchange earnings over its operational lifecycle, reinforcing its importance as a strategic national asset.
While commending the government and AFC for advancing reforms aimed at attracting private investment into the mining sector, CRG emphasized the importance of transparency, regulatory compliance, and effective oversight in the implementation of the project. The Centre stressed that responsible governance, proper licensing procedures, and public accountability must remain central to ensure that the economic benefits translate into tangible national development.
CRG reaffirmed its commitment to monitoring major investments in the extractive sector and advocating policies that promote transparency, sustainability, and inclusive economic growth for the benefit of all Nigerians.
SIGNED
Centre for Responsible Governance (CRG)
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