You may soon be able to buy gold refined in Nigeria. This is because the federal government has issued its first gold refining licence to Kian Smith Limited.

So, the Nigeria Economic Summit is currently underway in Abuja and Udo Udoma, Nigeria’s minister of budget and national planning, is using the opportunity to announce the achievement.

The issuing of the gold-refining licence is part of the ERGP’s licence.


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Speaking at the summit on Monday, Udoma said this is one of the many outcomes of the ERGP focus labs.

The minister added that the primary objective of the Economic Recovery and Growth Plan (ERGP) was to get Nigeria out of recession, stating that the plan has achieved that primary objective.

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“As an outcome of the ERGP focus labs, we have also been able to accelerate the development of the national gold development policy and the establishment of a federal gold reserves scheme in Nigeria,” Udoma said.

“Today, I am happy to inform us that the first gold refining licence has been issued to a company called Kian Smith Limited, which was one of the companies that participated in the labs.

“The federal government is finalising modalities to purchase gold from local refiners, via a federal gold reserves scheme,” Udoma added.

Kian Smith is said to be a Nigerian company, registered seven years ago, with focus on minerals, commodities, and marine services company.

Udoma said a local automobile assembly plant is being supported to double its delivery in Nigeria, to drive economic growth in the country.

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