Kaduna State has launched a $150 million Green Mining Investment Fund to accelerate early-stage exploration of critical minerals and position the state as a top destination for global mining capital.
The Fund was announced in Johannesburg on the sidelines of the G20 Summit, where the state government signed an MoU with international advisory firm Core International at an event hosted by the Nigerian Investment Promotion Commission (NIPC).
Under the agreement, Core International and the Kaduna Mining Development Company (KMDC) will jointly structure the Fund and secure anchor capital, with a firm target to make it fully operational by the end of Q1 2026.
Officials say the initiative directly tackles one of Nigeria’s biggest mining barriers, limited early-stage, risk-tolerant financing needed to move mineral assets from potential to bankable status.
Focus on Critical Minerals
The Fund is designed as a private-sector-led vehicle that will co-finance drilling, resource definition and project preparation for minerals vital to the global energy transition, including lithium, rare earth elements (REEs) and gold.
“This Fund is the mechanism that transitions Kaduna from having potential to realizing value,” said Shuaibu Kabir Bello, managing director of KMDC.
“Our commitment of capital signals to global investors that we are not just seeking funding—we are sharing exploration risk and building a transparent, modern mining sector.”
Core International’s managing partner, Suleiman Zakari, said the collaboration provides a credible pathway for global mining investment.
“This partnership is a secure bridge for global capital,” Zakari said. “By signing this agreement at a moment when major economies are racing to secure critical minerals, Kaduna is sending a strong message: it is ready, organized and investment-grade.”
The launch of the Fund completes Governor Uba Sani’s State Exploration Acceleration Programme, which includes geological data generation, regulatory streamlining and investor-support systems.
