Nigeria : $1.3bn deal with Africa Finance Corporation for alumina refinery 

The Government of Nigeria has signed a $1.3 billion agreement with Africa Finance Corporation (AFC) to develop an alumina refinery aimed at processing bauxite locally. According to official statements from the authorities and AFC, the facility is expected to process about 1 million tonnes of bauxite annually using the Bayer process and will include a dedicated gas-fired power plant.

Official projections indicate potential annual economic impact of $1.2 billion and more than $25 billion over a 20-year operating period, supported by alumina exports. The agreement also includes a geoscientific mapping program and a dedicated mining investment vehicle.