The Federal Government recorded ₦6.9 billion in mining sector revenues during the first quarter of 2025, according to Minister of Solid Minerals Development, Dr. Dele Alake. The announcement came alongside significant developments in Nigeria’s mineral sector transformation agenda.
Sector Performance Highlights
- Revenue Generation: ₦6.96 billion accrued from mining fees and permits
- New Investments: 118 private mineral buying centers registered nationwide
- License Processing: 955 applications reviewed, with 867 approvals granted across exploration, small-scale mining, and quarrying categories
Strategic Initiatives Underway
- Nigerian Solid Minerals Corporation
- A government-backed special-purpose vehicle to position Nigeria as a global mining destination
- Planned public offering to allow citizen investment participation
- Development in partnership with the Ministry of Finance Incorporated (MOFI)
- International Partnerships
- France: Committed to upgrading NGSA laboratories and training geologists
- Australia: Approved professional training programs for Nigerian miners (first cohort departing May 2025)
- South Africa: New MOU signed for geological capacity development
- UK/Saudi Arabia: Investments secured across mineral value chains
- Policy Leadership
- Nigeria now chairs the African Minerals Strategy Group (AMSG)
- Continued enforcement of value-addition policies to curb raw mineral exports
Ministerial Perspective
“These achievements reflect our deliberate strategy to reposition mining as a key economic pillar,” stated Dr. Alake. “From institutional reforms to global partnerships, we’re building a sector that attracts serious investment while creating domestic opportunities.”
The minister particularly emphasized the coming public offering for the Nigerian Solid Minerals Corporation as a “groundbreaking opportunity for citizens to own stakes in our national mineral wealth.”
Sector Outlook
With Q1 performance exceeding projections, the ministry anticipates increased activity in:
- Lithium and gold exploitation
- Gemstone processing facilities
- Mining-related infrastructure development
The revenue announcement follows recent CBN data showing ₦76.27 trillion credit to Nigeria’s private sector, suggesting growing investor confidence in non-oil sectors.
