Nigeria’s Mining Sector Rakes in #7bn in Q1 as Reforms Attract Global Interest

By Faridat Salifu
Nigeria’s solid minerals sector has recorded strong growth in early 2025, with the federal government generating ₦6.96 billion in mining fees in the first quarter alone.
Minister of Solid Minerals Development, Dr. Dele Alake, shared the update via his official X handle, on Monday calling it a sign of renewed investor confidence and structural reforms gaining momentum.
“This is a direct result of intensified awareness campaigns and strategic reforms to reposition Nigeria as a global mining hub,” Alake stated.
He revealed that 118 new private mineral buying centers were registered between January and March, while the Mining Cadastral Office processed 955 applications for mining titles—approving 867.
These include 512 exploration licenses, 295 small-scale mining leases, and 60 quarry leases, reflecting a sharp uptick in sector activity.
Alake also unveiled plans for the Nigerian Solid Minerals Corporation—a government-backed investment platform being established with the Ministry of Finance Incorporated (MOFI).
“This special-purpose vehicle will allow Nigerians to invest in mining through a public offering and serve as a launchpad for global competitiveness,” he said.
International collaborations are playing a key role in the sector’s resurgence. France has pledged to equip Nigeria’s geological labs and train young geologists, while Western Australia is set to host Nigerian professionals for advanced training.
British and Saudi investors are also making inroads into the local mineral value chain, and a new partnership with South Africa aims to boost geological capacity.
Highlighting Nigeria’s leadership role in the African mining space, Alake cited the country’s chairmanship of the African Minerals Strategy Group.
“Our value addition policy is yielding results. We are curbing raw mineral exports and positioning Nigeria as a beneficiation hub in Africa,” he said.
With cross-border support, rising revenues, and a policy shift toward value creation, Alake said Nigeria’s mining sector is on a path toward resilience, sustainability, and global relevance.