Nigeria’s mining industry is gaining significant traction as the Federal Government announces impressive revenue and regulatory milestones for the first quarter of 2025, alongside bold steps to expand both local and international investment in solid minerals.
In a post on his X account late Monday, the Minister of Solid Minerals, Dele Alake, revealed that the government collected a remarkable ₦6,957,826,200 in mining fees during Q1 and registered 118 new private mineral buying centres. He attributed these gains to intensified awareness campaigns and investor outreach efforts aimed at revamping the mining landscape.
“I am pleased to share some exciting developments in the mining sector,” said Alake. “These achievements are a direct reflection of our dedicated efforts to raise awareness and attract investors to our vibrant mining industry.”
A detailed breakdown of the Mining Cadastral Office’s (MCO) activities shows that it processed 955 title grant applications, approving 867 of them. These included 512 exploration licenses, 295 small-scale mining leases, 60 quarry leases, and 5 mining leases.
“The MCO has been particularly active,” Alake noted. “I’m proud to say that we approved a total of 867 applications.”
Looking ahead, Alake disclosed that the Ministry is preparing to launch the Nigerian Solid Minerals Corporation, a special-purpose vehicle aimed at transforming Nigeria into a global player in the mining sector. The initiative, being finalized in collaboration with the Ministry of Finance Incorporated (MOFI), will allow Nigerians to invest directly through a public offering.
“One of the most exciting initiatives on the horizon is the establishment of the Nigerian Solid Minerals Corporation,” Alake said. “I am particularly excited that Nigerians will have the chance to invest through a public offering.”
International collaborations are also gaining momentum. The French government has pledged to equip the laboratory of the Nigeria Geological Survey Agency (NGSA) and train young geologists under a bilateral agreement stemming from a memorandum signed by President Bola Tinubu and French President Emmanuel Macron.
“Recently, the French government committed to equipping the laboratory of the NGSA and training young geologists in modern mining techniques,” Alake stated.
In a similar vein, the Government of Western Australia has approved a structured training program for Nigerian mining professionals, with the first batch of trainees set to depart next month. Additionally, fresh investments have flowed in from British and Saudi Arabian entities, while a recent Memorandum of Understanding (MoU) with South Africa aims to enhance Nigeria’s geological capacity.
“I’m also pleased about the investments from British and Saudi Arabian entities across the mineral value chain,” Alake added.
Alake, a former Commissioner for Information and Strategy in Lagos State, also emphasized Nigeria’s leadership role on the continent, highlighting the nation’s policy shift toward value addition and beneficiation. This shift has reduced the export of raw minerals and increased local processing. The strategic direction helped Nigeria secure the pioneer chairmanship of the African Minerals Strategy Group (AMSG).
“Our advocacy for value addition and our stand against the indiscriminate export of raw minerals have led us to become the pioneer chair of the African Minerals Strategy Group,” he said. “One of our main goals with this position is to draw more investments to both Africa and Nigeria.”
In conclusion, the minister expressed confidence in the country’s trajectory and reiterated the government’s commitment to transforming Nigeria into a mining powerhouse.
“Together, we are building a resilient and competitive mining sector for Nigeria,” Alake affirmed.
