Nigeria’s solid minerals sector remitted a total of ₦63.92 billion into the Federation Account between January and November 2025, reflecting both the growing importance of the sector to national revenue and the volatility that continues to shape its performance.
Official remittance figures presented to the Federation Account Allocation Committee (FAAC) in December show a year marked by sharp monthly fluctuations, a strong rebound in the second quarter, and a moderation towards the end of the year largely linked to security challenges.
The year began on a modest note, with ₦4.18 billion remitted in January and ₦3.78 billion in February. Combined, the first two months accounted for ₦7.96 billion, representing just under 12.5 per cent of the total eleven-month inflow. March recorded the lowest contribution of the year at ₦2.15 billion, bringing first-quarter remittances to ₦10.10 billion, or about 15.8 per cent of the January–November total.
A significant turnaround was recorded in the second quarter. April remittances surged to ₦7.88 billion, followed by a peak of ₦9.66 billion in May, the highest monthly inflow of the year. June sustained the improved performance with ₦4.75 billion. By the end of June, cumulative remittances had reached approximately ₦32.34 billion, meaning more than half of the eleven-month total was generated between April and June.
The third quarter opened steadily, with ₦5.84 billion remitted in July and ₦6.23 billion in August. September recorded ₦7.32 billion, making it the third-strongest month of the year. October followed closely with ₦6.86 billion.
However, November saw a decline to ₦5.28 billion, below the mid-year highs though still stronger than early-year levels. According to official revenue notes submitted to FAAC, the moderation was partly attributed to a drop in mining activities caused by a sudden rise in insecurity in parts of the country.
“The revenue collected by the Ministry of Solid Minerals Development into the Federation Account for the month of November 2025 is ₦5.28 billion,” the note stated. It added that ₦3.44 billion came from royalties, while ₦1.84 billion was realised from fees. Although the ministry recorded a positive variance against its monthly target, collections fell by about ₦1.58 billion compared to October due to reduced mining operations linked to insecurity.
Overall, five months — April, May, August, September and October — accounted for roughly 59.4 per cent of total remittances over the eleven-month period. May’s ₦9.66 billion alone exceeded the combined inflows of January and March, underscoring the volatility within the sector.
The remittance pattern highlights the solid minerals sector’s increasing contribution to national revenue, while also reinforcing concerns about its sensitivity to security conditions, infrastructure constraints and operational disruptions.
