Nigeria Mining Week 2026 concluded in Abuja on Wednesday with industry leaders calling for stronger financing, reliable geological data and clearer regulation to turn the country’s mineral resources into commercially viable projects and expand domestic processing.

The three-day event, held at the Abuja Continental Hotel from October 12 to 14, brought together government officials, mining companies, investors and financiers under the theme “Unlocking Investment and Growth through Partnerships,” according to information released by the organisers.

Discussions focused on what investors need before committing capital to mining projects, including dependable exploration data, predictable licensing processes, security, infrastructure and access to finance.

Cyril Azobu, a partner and mining industry leader at PwC Nigeria, said the country needed to develop projects capable of attracting investment while generating more value domestically, rather than depending on exports of unprocessed minerals, according to the event statement.

The emphasis on project financing comes as Nigeria seeks to develop its solid minerals industry beyond exploration and small-scale production.

Building commercially viable mines requires capital for exploration, equipment, processing facilities, electricity and transport infrastructure.

Investment Readiness Takes Centre Stage

Participants highlighted the importance of making mining projects sufficiently developed and documented to attract banks, institutional investors and other sources of private capital.

Investors typically assess a project’s geological evidence, estimated operating costs, licensing position, infrastructure requirements and potential market for its output before committing funds.

Weaknesses in these areas can make it difficult for companies to secure financing, even where mineral deposits have been identified.

Nigeria Mining Week included discussions on financing exploration and junior mining companies, preparing projects for investment and connecting project owners with potential financiers.

The programme also featured a Deal Room designed to facilitate meetings between mining companies and investors.

The discussions covered alternative financing arrangements, partnerships with development finance institutions and the documentation required to demonstrate that projects are commercially viable.

For smaller exploration companies, the challenge is particularly significant because they may need substantial funding to establish the quality and commercial potential of a deposit before they can generate revenue from production.

Operating Mines Highlight Local Participation

Austin Menegbo, country manager of Segilola Resources Operating Limited, offered an example of an operating mine’s contribution to the domestic economy.

Segilola reported production of 91,910 ounces of gold in 2025, with Nigerians accounting for 99% of its workforce, according to the event statement.

Menegbo also identified overlapping approvals, infrastructure constraints, security concerns and limited access to finance as challenges facing mining companies.

The issues illustrate the gap between identifying mineral resources and developing mines that can produce consistently and profitably.

Companies must secure approvals, establish reliable transport and power supplies, finance construction and operations, and manage risks associated with the locations where they work.

Oba Ayandele Ayanleke, national president of the Miners Association of Nigeria, called for greater regulatory certainty and closer cooperation between government and industry, the statement said.

More predictable rules could help companies assess the costs and risks of projects over their operating lives.

Coordination among government agencies is also important where mining approvals, environmental requirements and land access involve multiple authorities.

Geological Data Seen as Key to Attracting Capital

Professor Olusegun Ige, director-general of the Nigerian Geological Survey Agency, stressed the need to strengthen geological information available to investors and improve the flow of exploration data into the country’s national geological knowledge base, according to the organisers.

Reliable geological data helps mining companies estimate the size and quality of mineral deposits, assess exploration risks and determine whether a project merits further investment.

Without adequate information, investors may face greater uncertainty when estimating the cost of developing a mine or projecting its future output. Better data can help companies make more informed decisions and support the preparation of projects for financing.

The conference also addressed international cooperation. Sweden’s ambassador to Nigeria, Anna Westerholm, highlighted opportunities for collaboration in technology, expertise and business partnerships.

She also pointed to the growing importance of traceability and responsible production as international buyers pay closer attention to the origins of minerals and the conditions under which they are produced, the event statement said.

Processing  and Infrastructure Remain Challenges

The final day’s programme examined how Nigeria could strengthen domestic mineral value chains, including gemstones, gold and steel.

Sessions addressed links between miners, gemstone cutters, polishers, jewellery manufacturers and international buyers.

Discussions on gold covered refining, responsible sourcing, formal trading and access to finance, while the Steel Forum examined iron ore supply, mineral processing, power, logistics and the future of the Ajaokuta Steel Mill.

Developing these activities within Nigeria could allow more of the value generated by mineral production to remain in the country.

However, processing facilities require dependable electricity, transport networks, suitable equipment, skilled workers and sufficient supplies of raw materials.

Power and logistics were therefore central to discussions about moving projects from mineral discoveries into commercial production.

The event also included a Women in Extractive Industries Forum, which considered opportunities for women in technical, operational and leadership roles, alongside their participation in environmental, social and governance initiatives and community engagement.

Nigeria Mining Week was organised by the Miners Association of Nigeria in partnership with PwC Nigeria, with the Nigeria Extractive Industries Transparency Initiative serving as transparency partner, according to the event’s official website.