Toba Owojaiye reporting
Abuja, Nigeria
The Federal Government has thrown its weight behind a landmark $400 million foreign direct investment (FDI) project by Hasetins Commodities Ltd to establish Africa’s largest rare earth and critical minerals processing plant in Nasarawa State.
According to Segun Tomori, Special Assistant on Media to the Minister of Solid Minerals Development, the initiative is expected to generate over 10,000 jobs nationwide, signaling a major step forward in Nigeria’s quest for economic diversification through solid minerals development.
Truth Live News gathered that Minister of Solid Minerals Development, Dr. Dele Alake, expressed the government’s full institutional support for the project during a courtesy visit by Prince Jidayi, Managing Director and CEO of Hasetins Commodities Ltd, and his team.
Speaking at the meeting, Alake hailed the $400 million investment as a testament to the growing global confidence in Nigeria’s mining reforms. He described mineral processing as a critical strategy to combat unemployment, accelerate industrialisation, and reduce the nation’s reliance on raw mineral exports.
“I’m glad our ongoing engagements have culminated in this groundbreaking initiative. With your collaboration, we are now witnessing the establishment of the largest rare earth and critical metals plant in Africa, right here in Nigeria,” the minister said.
“On behalf of the President, the Ministry, and the Nigerian people, I commend your commitment to this vital sector. Your patriotic zeal confirms that our policies are on the right track and producing tangible results.”
Alake further emphasised the project’s alignment with President Bola Tinubu’s Renewed Hope Agenda, which prioritises value addition, in-country beneficiation, and industrial linkages within the solid minerals ecosystem.
He described Hasetins Commodities as a forward-looking firm whose commitment to local processing reinforces Nigeria’s ambition to become a continental hub for critical metals essential in high-tech industries and defence systems.
In his remarks, Prince Jidayi, CEO of Hasetins Commodities Ltd, expressed gratitude for the minister’s visionary leadership and far-reaching reforms, which he said have improved transparency, enhanced security, and eased access to licenses in the mining sector.
“We have observed the introduction of mining marshals to combat illegal mining and reforms that have simplified the licensing process,” Jidayi noted.
“These efforts directly influenced our decision to invest heavily in this project. Beyond this flagship plant, we are also establishing regional separation plants and empowering local communities and miners.”
Jidayi explained that the company’s operational model includes early-stage beneficiation through pre-separation of metals at local sites, which enables immediate income for artisanal miners and ensures more sustainable community engagement. He added that the project also features training for local workers, provision of protective equipment, and long-term community development programmes.
Hasetins Commodities Ltd specialises in the extraction and processing of rare earth elements and platinum group metals (PGMs), which are critical inputs for modern technologies ranging from electric vehicles and renewable energy systems to electronics and military-grade equipment.
Industry analysts say the Hasetins project is poised to become a cornerstone of Nigeria’s industrial strategy. It comes at a time when global demand for critical minerals is surging, and nations are seeking secure, sustainable supply chains for essential raw materials.
The Nasarawa plant, once operational, is expected to serve not only Nigerian needs but also regional markets across West and Central Africa, boosting Nigeria’s export potential and foreign exchange earnings.