The Federal Government (FG) has announced that it generated ₦6,957,826,200 billion from mining fees in the first quarter of 2025.
The Minister of Solid Minerals Development, Dr. Dele Alake disclosed this at the 2025 Business Day Solid Minerals Conference themed “Building a Resilient Mining Sector in Nigeria: Leveraging Diplomacy, International Partnership and Regulatory Coherence” on Monday.
Alake also declared that the FG registered 118 new private mineral buying centres across the country, among other feats recorded.
His words: 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 ₦6,957,826,200 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 Mining Cadastral Office (MCO) has been particularly active, processing 955 applications for title grants, which included 651 for exploration, 270 for small-scale mining, 49 for quarrying, and 24 for reconnaissance permits. I’m proud to say that we approved a total of 867 applications, which consisted of 512 exploration licenses, 295 small-scale mining leases, 60 quarry leases, and 5 mining leases.”
He revealed that one of the most exciting initiatives on the horizon is the establishment of the Nigerian Solid Minerals Corporation, explaining that the structure will serve as a special-purpose vehicle to elevate Nigeria into the global mining arena.
Minister Alake stated that the Ministry is finalising the Corporation’s setup in collaboration with the Ministry of Finance Incorporated (MOFI), expressing confidence that Nigerians will have the chance to invest through a public offering.
“International partnerships are also blossoming. Recently, the French government committed to equipping the laboratory of the Nigeria Geological Survey Agency (NGSA) and training young geologists in modern mining techniques. This stems from a Memorandum of Understanding signed between President Bola Tinubu and French President Emmanuel Macron.
“Additionally, the Government of Western Australia has approved regular training for Nigerian mining professionals, with the first group set to depart next month. I’m also pleased about the investments from British and Saudi Arabian entities across the mineral value chain, and just days ago, we signed an MOU with South Africa to enhance our geological capacity,” he remarked.
Alake highlighted the impact of the Ministry’s value addition policy, affirming that it has bolstered local beneficiation and positioned Nigeria as a leader in the African mining landscape.
He further stated that the Ministry’s advocacy for value addition and stand against the indiscriminate export of raw minerals have led Nigeria to become the pioneer chair of the African Minerals Strategy Group (AMSG).
“One of our main goals with this position is to draw more investments to both Africa and Nigeria. Together, we are building a resilient and competitive mining sector for Nigeria,” the Minister added.
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