The Federal Government has announced a significant milestone in the mining sector, collecting a total of N6,957,826,200 in mining fees across Nigeria in the first quarter of 2025. This figure was revealed by the Minister of Solid Minerals Development, Dr. Dele Alake, in a statement on his official X page on Monday.
Alake expressed his excitement over the achievement, noting that it reflects the government’s ongoing efforts to boost awareness and attract investors to Nigeria’s vibrant mining industry. The fees collected are part of a broader strategy to ensure that Nigeria’s mineral resources are properly managed and monetized.
Additionally, Alake highlighted that the government registered 118 new private mineral buying centers in the same period, signaling continued growth in the sector.
“The Mining Cadastral Office (MCO) has been particularly active in processing applications, with 955 received for title grants,” Alake explained. These included applications for exploration, small-scale mining, quarrying, and reconnaissance permits. The MCO approved a total of 867 applications in Q1, further illustrating the sector’s development.
Alake also pointed to the formation of the Nigerian Solid Minerals Corporation, a new initiative designed to enhance Nigeria’s presence in the global mining arena. The corporation, which is being established in partnership with the Ministry of Finance Incorporated (MOFI), will be open to public investment through a public offering.
The Minister noted that international partnerships have been crucial to the sector’s growth. He referenced recent agreements, including a memorandum of understanding (MoU) signed between President Bola Tinubu and French President Emmanuel Macron, aimed at improving the Nigeria Geological Survey Agency’s laboratory and training young geologists.
Other international collaborations include training programs for Nigerian mining professionals sponsored by the Government of Western Australia, and investments from British and Saudi Arabian entities in the mineral value chain. The Nigerian government also recently signed an MoU with South Africa to strengthen its geological capacity.
Alake concluded by emphasizing the success of Nigeria’s value addition policy, which has enhanced local beneficiation and positioned the country as a leader in Africa’s mining landscape. He stated that Nigeria’s leadership of the African Minerals Strategy Group (AMSG) is an important step toward attracting further investments into both Nigeria and Africa at large.
As the mining sector grows, Alake remains confident that with continued collaboration, Nigeria will see a more resilient and competitive mining industry, one that contributes significantly to the nation’s economy.
Despite Nigeria’s status as Africa’s top energy producer, the country has long struggled to fully capitalize on its mineral resources due to issues such as illegal mining, low investment, and insufficient incentives. Currently, Nigeria’s mining sector contributes less than 1% to the nation’s GDP, underscoring the need for reforms and greater development in the industry.
