Kaduna State in Nigeria has entered into two Memoranda of Understanding with the Africa Finance Corporation (AFC) valued at a combined $500 million to advance solid minerals development.
The agreements mark a significant step in monetizing the state's mineral resources, which include platinum group metals, gold, and nickel.
The investment follows a recent federal government assessment that identified a world-class polymetallic mineral province in Kaduna.
This discovery has positioned the region as a key node in Africa's growing critical minerals supply chain, attracting attention from international investors and development finance institutions seeking exposure to battery metals and precious metals.
The AFC's involvement underscores a broader trend of institutional capital flowing into African mining infrastructure.
By partnering with a state-level government, the corporation is targeting early-stage development projects that can unlock long-term value from the region's geological potential.