The Federal Government has announced that it generated nearly ₦7 billion in mining-related fees during the first quarter of 2025. According to Minister of Solid Minerals, Dele Alake, the government also registered 118 new private mineral buying centers within the same period.
Alake revealed this in a statement on Monday, highlighting the ministry’s active efforts to attract investors and strengthen the mining sector. He noted that the Mining Cadastral Office (MCO) processed a total of 955 applications for mining titles during Q1 2025. These included 651 applications for exploration, 270 for small-scale mining, 49 for quarrying, and 24 for reconnaissance permits.
Of these, 867 were approved: 512 exploration licenses, 295 small-scale mining leases, 60 quarry leases, and five full mining leases.
“These milestones show our dedication to revitalizing the mining industry and ensuring it becomes a major contributor to the national economy,” Alake stated. He reaffirmed the ministry’s commitment to curbing the export of unprocessed raw minerals, aiming instead to promote value addition within the country.
He also announced the upcoming launch of the Nigerian Solid Minerals Corporation—a special-purpose vehicle being developed in collaboration with the Ministry of Finance Incorporated (MOFI). This entity will drive large-scale mining investments and offer Nigerians an opportunity to invest through public offerings.
Alake further emphasized the growth of international partnerships, noting that the French government has pledged support in equipping the Nigeria Geological Survey Agency’s lab and training young geologists. He also mentioned that the Government of Western Australia has approved continuous training for Nigerian mining professionals, with the first batch set to begin next month.
Additionally, British and Saudi investors have made inroads into Nigeria’s mineral value chain, and a new memorandum of understanding with South Africa aims to enhance geological expertise in the country.
He concluded by highlighting Nigeria’s leadership role on the continent: “Our value addition policy has improved local mineral processing and boosted our reputation, earning us the position of pioneer chair of the African Minerals Strategy Group (AMSG). This role strengthens our capacity to attract more investment into Nigeria and Africa’s broader mining landscape.”