The Federal Government has announced a significant boost in the mining sector, with ?6 billion generated in mining fees during the first quarter of 2025. Minister of Solid Minerals, Dele Alake, revealed this in a statement on Monday, highlighting the government’s successful efforts in attracting investors to the industry. The Minister also disclosed that 118 new private mineral buying centers were registered within the same period. Furthermore, the Mining Cadastral Office (MCO) processed and approved a total of 867 applications, comprising 512 exploration licenses, 295 small-scale mining leases, 60 quarry leases, and 5 mining leases.
Alake emphasized the government’s commitment to adding value to the mining sector and ending the export of raw minerals. He stated, “I am pleased to share some exciting developments in the mining sector; in the first quarter of this year, the Federal Government collected an impressive N6,957,826,200 in mining fees and registered 118 new private mineral buying centers. These achievements are a direct reflection of our dedicated efforts to raise awareness and attract investors to our vibrant mining industry.”
The Minister also highlighted key initiatives and international collaborations aimed at further developing the sector: The establishment of the Nigerian Solid Minerals Corporation, in collaboration with the Ministry of Finance Incorporated (MOFI), is underway to elevate Nigeria’s presence in the global mining arena. A public offering will allow Nigerians to invest. International partnerships are also blossoming. The French government has committed to equipping the Nigeria Geological Survey Agency (NGSA) laboratory and providing training for young geologists. This follows a memorandum of understanding between President Bola Tinubu and French President Emmanuel Macron. The Government of Western Australia has also approved regular training for Nigerian mining professionals. British and Saudi Arabian entities are making investments across the mineral value chain, and a recent MOU with South Africa will enhance Nigeria’s geological capacity. The government’s focus on value addition has boosted local beneficiation, positioning Nigeria as a leader in the African mining landscape. Nigeria’s advocacy for this policy has led to its emergence as the pioneer chair of the African Minerals Strategy Group (AMSG).
