State targets large-scale investment, commercial mining and job creation through landmark partnership with Africa Finance Corporation……
Kaduna State has taken a major step toward transforming its solid minerals sector after securing investment agreements worth $500 million with the Africa Finance Corporation (AFC), a move expected to accelerate mining activities, attract private capital and stimulate economic growth.
The two Memoranda of Understanding (MoUs) were signed during a high-level meeting between Governor Uba Sani and AFC President and Chief Executive Officer, Samaila Zubairu, alongside senior officials from both institutions.
The first agreement, signed between the AFC and the Kaduna Mining Development Company (KMDC), establishes a strategic partnership to identify, finance and develop commercially viable mining assets across the state. Under the arrangement, Kaduna State will retain ownership of its mineral resources while leveraging AFC’s financial and technical expertise to unlock their economic value.
The second MoU brings together KMDC, AFC and the Jema’a Resource Project (JRP) to fast-track the development of the Gidan Waya mining project in Jema’a Local Government Area. The partnership is expected to move the project from exploration into commercial production by combining AFC’s investment capacity with JRP’s technical capabilities.
Describing the agreements as a milestone for Kaduna’s economic agenda, Governor Uba Sani said the partnerships reflect his administration’s determination to position the state as Nigeria’s preferred investment destination through reforms, improved security, institutional strengthening and responsible management of natural resources.
According to the governor, recent discoveries of commercially viable Platinum Group Metals (PGMs) alongside existing deposits of gold, lithium, nickel, copper, cobalt, silver and rare earth elements have significantly strengthened Kaduna’s potential as a major mining hub capable of driving industrial growth, creating jobs and reducing dependence on traditional revenue sources.
Sani said AFC’s decision to invest in Kaduna demonstrates growing confidence in the reforms introduced by his administration, noting that stronger governance and transparent resource management have made the state increasingly attractive to long-term investors.
He also acknowledged Anka Metals Chief Executive Officer, Nere Emiko, for recognizing Kaduna’s consistency in mineral exploration, adding that the Kaduna Mining Development Company has become the first state-owned mining firm in Nigeria to secure an exploration and development partnership with the Africa Finance Corporation.
The governor further revealed that the Director-General of the Nigerian Geological Survey Agency (NGSA) commended Kaduna for becoming the first state government to involve the agency throughout the mineral discovery and exploration process. He said the NGSA described Kaduna’s science-based, transparent and accountable approach to resource development as a benchmark for other states.
Governor Sani concluded by inviting investors, development finance institutions and industry players to partner with the state in developing modern mining infrastructure, expanding local mineral processing and building globally competitive industries that can generate employment and support sustainable economic development.
