Segilola Resources Leads Nigeria's Gold Mining Revolution

Nigeria's mineral potential includes resources such as gold, limestone, and lithium, which could enhance manufacturing, create jobs, and reduce oil dependence. However, converting these resources into economic value requires patient capital, infrastructure, technical expertise, and community trust.

The 11th Nigeria Mining Week, held from October 12 to 14, 2026, at the Abuja Continental Hotel, focused on these challenges. Segilola Resources Operating Limited (SROL) participated as a Diamond Sponsor, sharing its operational experience.

Segilola began gold production in 2021, establishing Nigeria's first commercial large-scale gold mine, and achieved its first full year of production in 2022. The company produced 91,910 ounces of gold in 2025.

Segilola's parent company, Thor Explorations Ltd, has repaid its debt to the Africa Finance Corporation and paid dividends to investors. With 99 percent of its workforce being Nigerian, Segilola emphasizes local capacity building, demonstrating the potential for large-scale commercial gold mining in Nigeria.