Mining Sector Revenue Hits N68bn

Nigeria’s mining sector revenue surged to about N68.1 billion in 2025, up from N38 billion in 2024 and N6 billion when the current administration took office, driven by sweeping regulatory reforms that revoked 924 dormant mineral titles.
The federal government revoked the titles—including exploration licences, mining leases, quarry leases, and small-scale mining permits—in April 2024 to free up idle assets, curb speculative holding, and prioritise serious investors, Minister of Solid Minerals Development Dele Alake said.
Represented by deputy director Etibo Umoakpan at the Africa Commodities Conference and Exhibition (ACCE) 2026 in Abuja, Alake described the move as part of an “interventionist and productivity-driven” shift, enforcing the Nigerian Minerals and Mining Act, 2007, and 2011 Regulations via digital tools like the eMC+ cadastre platform and Nigerian Minerals Resource Decision Support System.

These reforms boosted fiscal gains: 2024 revenue hit over N38 billion, with 2025 remittances to the Federation Account reaching N63.92 billion in the first 11 months.

Royalties rose N19.3 billion (110.1 per cent), and Mining Cadastre Office licensing revenue grew N6.51 billion (107 per cent) to N12.58 billion.

Participation expanded, with 142 new mining companies registered, Private Mineral Buying Centres up 93.27 per cent to 431, and mineral output increasing 343.8 per cent by 513,600 tonnes. Over 250 mining cooperatives were formalised for artisanal miners, while Mining Marshals arrested 327 suspects, prosecuted 143, and secured nine convictions.

Alake announced mandatory value-addition plans for licence applicants to shift from raw exports to local processing, industrialisation, and job creation. Challenges like infrastructure gaps and data shortfalls persist, but upcoming reforms will target exploration, investor protection, and value chains.