By Chibuike Nwabuko
ABUJA (PRECISE POST) – The Minister of Solid Minerals, Dele Alake has on behalf of the Federal Government has highlighted significant strides in the mining sector, reporting a revenue of N6,957,826,200 from mining fees and the registration of 118 new private mineral buying centers in the first quarter of 2025.
According to the Minister, these accomplishments were ocassioned by growing investor confidence and the government’s sustained drive to revitalize the industry.
Disclosing this on his verified X account on Sunday, Alake said at the heart of these developments is the Mining Cadastral Office (MCO), which processed 955 applications for mining title grants. Of these, 867 applications were approved, including 512 exploration licenses, 295 small-scale mining leases, 60 quarry leases, and five full mining leases, the Minister added.
“Looking ahead, the government is preparing to launch the Nigerian Solid Minerals Corporation, a special-purpose vehicle aimed at positioning Nigeria prominently on the global mining stage. This initiative, in partnership with the Ministry of Finance Incorporated (MOFI), will also allow Nigerians to invest directly through a public offering.”
International cooperation is also playing a crucial role in transforming the sector.
He further stated that France has pledged to upgrade the Nigeria Geological Survey Agency (NGSA)’s laboratory and train young geologists, following an MoU between Presidents Bola Tinubu and Emmanuel Macron.
Meanwhile, the Government of Western Australia will begin training Nigerian mining professionals, with the first batch of trainees departing next month.
Additionally, new investments are flowing in from the UK and Saudi Arabia across the mining value chain. A recent memorandum of understanding signed with South Africa aims to further strengthen Nigeria’s geological capabilities.
A cornerstone of these efforts is Nigeria’s value addition policy, which discourages raw mineral exports in favor of local processing and beneficiation. This policy has not only reinforced Nigeria’s role as a leader in Africa’s mining sector but also earned it the pioneering chairmanship of the African Minerals Strategy Group (AMSG), a platform dedicated to attracting more investment across the continent.
Through these reforms and partnerships, the government is determined to build a resilient, competitive, and globally respected mining industry for Nigeria, Alake said.
