The Federal Government, through the Ministry of Solid Minerals Development, generated ₦6.96 billion in mining fees and registered 118 new private mineral buying centres in the first quarter of 2025.
Minister of Solid Minerals Development, Dr. Dele Alake, said the figures reflect the Ministry’s ongoing efforts to boost investor interest and increase public awareness in the sector.
He made this disclosure while speaking at the second Annual Mining Conference organised by BusinessDay newspaper in Abuja.
According to a statement released on Monday by his Special Assistant on Media, Segun Tomori, the mining fees were collected by the Mining Cadastral Office from 955 applications for mining title grants.
The statement read, “The Federal Government collected N6,957,826,200 mining fees and registered 118 new private mineral buying centres in the first quarter of this year. The revenues are from paying various fees, including annual service fees, application processing fees, and renewal of titles.”
The statement noted that 651 titles were approved for exploration, 270 for small-scale mining, 49 for quarrying, and 24 for reconnaissance permits.
Speaking on the theme, “Building A Resilient Mining Sector,” Alake said the corporation will be globally competitive and rooted in Nigerian expertise and capital.
“We are finalising its structure in partnership with the Ministry of Finance Incorporated. Nigerians will have the opportunity to invest through a public offer, with 25 per cent equity reserved for citizens, 25 per cent for the government, and 50 per cent for the private sector”, the minister stated.
Alake also approved 867 applications, including 512 exploration licenses, 295 small-scale mining leases, 60 quarry leases, and five mining leases.
He also mentioned that the Cadastral Office has increased efforts in resolving conflicts to minimize petitions related to overlaps and ownership disputes.
Alake further revealed that the ministry has made significant strides in advancing the Nigerian Solid Minerals Corporation, which aims to become a key player in the global mining industry.
He commended the ministry for its revenue generation, highlighting how it exceeded the 2024 revenue projection of N11bn by N27bn, reaching a total of N38bn.
