Alake Hails $400m Rare Earth Plant as Boost for Nigeria’s Industrial Future

By Our Reporter

Minister of Solid Minerals Development, Dr. Dele Alake, says the proposed $400 million rare earth processing plant being developed by Hasetins Group in Nasarawa State is a strong indication that Nigeria can build itself into an economic giant. He made the remark on Wednesday at the groundbreaking ceremony of the 12,000-ton-per-annum facility in Uke, Karu Local Government Area.

Describing the project as a “patriotic revolution,” Alake said it would place Nigeria firmly on the path of self-reliance and shared prosperity. Rare earth metals are essential inputs in modern technology, powering electronics, renewable energy systems, electric vehicles, and defence equipment. According to the minister, the new plant is expected to create thousands of jobs, stimulate local communities, and enhance national industrial capacity.

Alake said the Tinubu administration’s reforms in the sector were already yielding results, noting that remittances from licensing fees to the federation account rose from N6 billion in 2023 to N12 billion in 2024 and N26 billion as of October 2025.
“Dangote Refinery has shown that we can restore our capacity to refine our crude oil. Segilola/THOR has shown that we can refine our own gold. Avatar and ASBA have shown that we can separate and process our lithium. Hasetins Group shall demonstrate that we can separate, process, and refine our rare earths,” he said.

Nasarawa State Governor, Engr. Abdullahi Sule, represented by his deputy, Dr. Emmanuel Akabe, said the state has prioritised creating an enabling environment for investors, stressing that development cannot happen without private sector participation. He highlighted the global importance of rare metals, saying: “Catalysis, propelling vehicles and the rest of them are all from there… it is something that we in Nasarawa State will grab with our two hands and our two legs.”

Managing Director of Hasetins Group, Prince Jidayi, said the plant, which aims to generate about 10,000 jobs, will operate in an environmentally responsible manner. He praised both federal and state authorities for supporting the project, saying the facility would promote sustainability, innovation, and economic opportunities for surrounding communities.