The Ministry of Solid Minerals Development recorded a 337 per cent increase in revenue, rising to over N70 billion in 2025 from N16 billion in 2023, under the leadership of the Minister of Solid Minerals Development, Dr Dele Alake.

The revenue growth was disclosed by the Special Assistant on Media to the Minister, Segun Tomori, who attributed the surge to extensive reforms and strategic policy initiatives that have repositioned Nigeria’s mining sector and drawn renewed global attention.

Tomori explained that revenue from the solid minerals sector rose from N16 billion in 2023 to N38 billion in 2024 and is projected to exceed N70 billion by the end of 2025. He stated that the improvement followed the implementation of Alake’s seven-point agenda, which prioritises reforms, transparency, investor confidence and local value addition.

As part of the reform process, the ministry revoked 1,633 mining licences in late 2023 over the non-payment of annual service fees. This was followed by the revocation of another 924 dormant licences in early 2024 to create opportunities for serious and committed investors.

He added that the guidelines for Community Development Agreements, CDAs, were revised to ensure that host communities give their consent before mining licences are approved, strengthening community participation and reducing conflicts.

Illegal mining, identified as a major challenge confronting the sector, has been tackled through the establishment of mining marshals in 2024. Within one year, more than 300 illegal miners were arrested, about 150 are currently undergoing prosecution, and 98 illegal mining sites have been recovered.

Tomori disclosed that nationwide satellite surveillance of mining sites is expected to commence in 2026 as part of efforts to further strengthen enforcement and monitoring across the sector.

On the issue of federal and state conflicts over mining control, Tomori said the minister introduced a cooperative federalism model, encouraging state governments to apply for mining licences and operate through limited liability companies.

He noted that this approach has resulted in joint venture investments in several states, including Nasarawa, Kaduna, Oyo and the Federal Capital Territory.

Tomori further revealed that lithium processing plants are springing up across the country, a $400 million rare-earth metals processing facility is in the pipeline, and approximately $1.5 billion in foreign direct investment has been attracted to the sector since 2023.

At the continental level, Nigeria’s push for local value addition has led to the formation of the Africa Minerals Strategy Group, which elected Alake as its pioneer chairman.

Tomori said that although the revenue growth recorded is unprecedented, it represents only a fraction of the sector’s vast potential, adding that reforms will be consolidated in 2026 to position solid minerals as a major contributor to Nigeria’s Gross Domestic Product.