By Obiabin Onukwugha
The Ministry of Solid Minerals Development has resolved to consolidate its reforms this 2026 to develop the solid minerals sectors as a major contributor to Nigeria’s Gross Domestic Product.
The ministry has also disclosed that it recorded a 337 percent increase in revenue, rising to over N70 billion in 2025 from N16 billion in 2023.
Special Assistant on Media to the Minister, Segun Tomori, disclosed this while giving stewardship of the performance of the ministry in 2025 recently.
He attributed the growth to wide-range reforms and strategic policies that have repositioned Nigeria’s mining sector and attracted renewed global interest.
Tomori said the improvement followed the implementation of the Minister of Solid Minerals Development, Dr Dele Alake’s seven-point agenda, which focuses on reforms, transparency, investor confidence and local value addition.
He said, as part of the reforms, the ministry revoked 1,633 mining licences in late 2023 over non-payment of annual service fees, while another 924 dormant licences were revoked in early 2024 to create room for serious investors.
In addition, the guidelines for Community Development Agreements (CDAs) were revised to ensure host communities give consent before licences are approved.
Tomori said nationwide satellite surveillance of mining sites is expected to commence in 2026 to strengthen enforcement.
The SSA revealed that the minister introduced cooperative federalism, encouraging states to apply for mining licences and operate through limited liability companies.
This approach, he emphasised, has resulted in joint venture investments in states including Nasarawa, Kaduna, Oyo and the Federal Capital Territory.
The ministerial aide further disclosed that lithium processing plants are emerging across the country, a $400 million rare-earth metals facility is in the pipeline, and about $1.5 billion in foreign direct investment has been attracted to the sector since 2023.
He said Nigeria’s push for local value addition led to the formation of the Africa Minerals Strategy Group, which elected Alake as its pioneer chairman.