The Federal Government has reaffirmed its commitment to building a $1 trillion economy by 2036, positioning large-scale mining investments as critical drivers of industrial growth and economic diversification.
Minister of Solid Minerals Development, Dele Alake, said the Dukia–Arinola Polymetallic Mine-to-Market Project represents the type of private-sector-led initiative required to accelerate GDP expansion, boost export capacity and reduce Nigeria’s dependence on oil revenues.
Alake spoke at the signing of an Engineering, Procurement and Construction Management (EPCM) Memorandum of Understanding between Dukia Gold & Precious Metals Refining Company Limited and SGS Bateman on the sidelines of the Investing in African Mining Indaba in Cape Town.
He emphasized that the mining sector must evolve into a core pillar of Nigeria’s economic transformation agenda.
According to the Minister, the Dukia–Arinola project aligns directly with the Federal Government’s broader economic blueprint aimed at significantly increasing Nigeria’s GDP within the next decade.
He said the initiative is expected to:
Stimulate large-scale industrial activity, generate skilled and semi-skilled employment, deepen local supply chains, promote mineral beneficiation and value addition
Increase foreign exchange earnings through competitive exports.
“Our ambition is clear — to move mining beyond its historic marginal role and position it as a strategic contributor to national GDP, foreign exchange earnings and industrial competitiveness,” Alake stated.
He noted that recent reforms in the mining sector — including improved regulatory clarity, streamlined licensing processes, investor-friendly fiscal incentives and infrastructure prioritization — are already strengthening the sector’s contribution to GDP.
Alake described the initiative as emblematic of a new mining model built around integrated Mine-to-Market development — ensuring minerals are not merely extracted but processed, refined and efficiently connected to domestic and international markets.
“It is especially encouraging that the project adopts a scalable polymetallic processing strategy capable of phased expansion into large-scale industrial capacity,” he said.
The Minister added that projects of this nature would strengthen Nigeria’s logistics ecosystem by linking mineral production to markets through road, rail, air and sea corridors — a critical foundation for achieving trillion-dollar economic status.
To reinforce investor confidence, Alake highlighted Nigeria’s status as a signatory to the Cape Town Convention on International Interests in Mobile Equipment, which provides internationally recognized protections for mobile mining equipment and leased assets.
He explained that the Convention enhances assurance for financiers and technical partners by providing clarity on asset registration, repossession rights and bankruptcy proceedings — key safeguards for mobilizing large-scale project financing.
Chairman of Dukia Gold, Mr. Tunde Fagbemi, described the MoU as a strategic step toward feasibility-driven execution and long-term mineral beneficiation.
The Dukia–Arinola Mineral Resources Development Project, located in Ose and Owo Local Government Areas of Ondo State, spans approximately 184 square kilometres across multiple mineral licenses.
The project has already progressed through extensive geological mapping, geochemistry, geophysics, trenching and diamond drilling, signaling readiness for advanced development.
As Nigeria intensifies efforts to expand non-oil revenue sources, the Dukia–Arinola initiative underscores the Federal Government’s strategy of leveraging solid minerals as a cornerstone of industrialization and macroeconomic expansion.
If successfully implemented, the project could serve as a practical template for how mining investments can directly power Nigeria’s march toward a $1 trillion GDP economy by 2036.
