Dele Alake, the Minister of Solid Minerals Development, has announced that the Federal Government generated N6.95 billion in mining fees during the first quarter of 2025.
In a post on X on Monday, April 21, Alake outlined significant strides made in the mining sector, noting that the government had also registered 118 new private mineral buying centers within the same period.
The minister attributed these achievements to concerted efforts to increase awareness and draw investors into Nigeria’s mining industry.
“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,” Alake said.
“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.”
The minister further revealed that the government is in the final stages of establishing the Nigerian Solid Minerals Corporation, a special-purpose vehicle designed to position Nigeria’s mining sector on the global stage.
According to Alake, the initiative is being developed in partnership with the Ministry of Finance Incorporated, MOFI, and will provide an opportunity for Nigerians to invest through a public offering.
Highlighting international collaboration, he also shared that the French government has pledged to equip the Nigerian Geological Survey Agency, NGSA, laboratory and provide training for young geologists in advanced mining techniques.
“This stems from a memorandum of understanding signed between President Bola Tinubu and French President Emmanuel Macron,” he said.
“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.”
Discussing the effects of the government’s value addition policy, Alake stated that it has significantly bolstered local mineral processing and established Nigeria as a frontrunner in Africa’s mining industry.
He explained that Nigeria’s focus on value addition and its firm stance against the unchecked export of raw minerals led to the country being awarded the inaugural chairmanship of the African Minerals Strategy Group, AMSG.
The minister further emphasized that the government intends to use this influential position to attract more investments into both Africa and Nigeria’s mining sector.
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