From Mineral Wealth to Lasting Economic Value: How Collaboration Can Unlock Nigeria’s Mining Potential - THISDAYLIVE

AI desk brief

Nigeria’s gold mining sector is still at the build-out stage, but Segilola is cited as proof that commercial-scale production is possible: the mine poured first gold in 2021, reached first full-year commercial production in 2022, and produced 91,910 ounces in 2025. The article’s main point is that future growth depends less on geology than on predictable regulation, infrastructure, financing, technical capacity and community relations.

Thor Explorations’ Segilola is presented as the anchor project, with the company having repaid its AFC debt facility, paid quarterly dividends and maintained a 99% Nigerian workforce. The piece argues that more projects will only follow if government coordination improves, approval timelines become more predictable and the local supply chain deepens, which would support broader upstream gold output over time.