The Federal Government has earmarked ₦1 trillion for investment in Nigeria’s solid minerals sector to fund geo-scientific exploration and develop critical infrastructure aimed at unlocking the country’s vast mineral wealth.
President Bola Tinubu announced this at the opening of the 2025 Nigeria Mining Week in Abuja, reaffirming his administration’s commitment to making the solid minerals sector a major driver of economic growth and diversification.
Represented by the Secretary to the Government of the Federation, Senator George Akume, the President described the sector as a vital component of the national economy that deserves top priority.
“We made the historic decision to increase the 2025 national budget by ₦4.5 trillion, with an extra ₦1 trillion earmarked for the solid minerals sector. This represents the most significant single investment in Nigeria’s mining industry by any administration,” the President stated. “These funds are being channelled towards geo-scientific exploration, detailed geological surveys, and the development of infrastructure to unlock our mineral-rich regions.”
President Tinubu explained that Nigeria’s overdependence on a single natural resource had provided important lessons, prompting the government to diversify the economy through the mining sector. He noted that alternative revenue sources would help stimulate local industries, generate employment, and fund national development.
He added that the recent reforms in the solid minerals sector were already showing positive results.
“In 2024, the solid minerals sector generated over ₦38 billion in revenue, up from ₦6 billion the previous year—a sixfold increase achieved through improved policy and oversight,” he said.
Tinubu also highlighted the importance of securing mining regions to attract and sustain both local and foreign investments. He assured that the government was intensifying efforts to eliminate insecurity and banditry in mining zones.
As part of the new policy framework, the President approved the establishment of the Nigeria Solid Minerals Company to harness the full potential of the sector and ensure accountability in mineral resource management.
Minister of Solid Minerals Development, Dr. Dele Alake, announced that the Federal Government was introducing a series of financial and operational policies to boost local participation and close critical funding gaps in the solid minerals sector.
According to him, these measures include the SMDF High-Impact Exploration Programme, which is designed to support exploration geo-chemists and geophysicists, as well as grants and scholarships for geosciences students to promote research and enhance local industry standards.
Dr. Alake further disclosed that a pre-shipment inspection agency for solid minerals exports would be established in collaboration with the Ministry of Finance. This initiative, he explained, would help ensure strict quality control and accountability across the export value chain.
“Like the early industrial development under the petroleum industry, the solid minerals sector will now have its own dedicated machinery inspection agency,” he said.
He stressed that Nigeria must possess internationally certified geological data to attract credible investors to the sector.
“Investors need accurate data on deposit volume and quality to make informed decisions,” he explained. “That is why we are directing that all geological data from ministries and agencies be centralised in the Nigeria Geological Survey Agency (NGSA), which is the official national repository.”
On the legislative side, the Chairman of the Senate Committee on Solid Minerals, Senator Ekong Sampson, reaffirmed the National Assembly’s readiness to provide legislative support for the ongoing reforms. He called for collaboration among the government, industry stakeholders, and host communities to promote peace and growth.
“We need collaboration, not conflict,” Senator Sampson said.
The President of the Miners Association of Nigeria, Mr. Dele Ayanleke, described the Nigeria Mining Week as a vital platform for innovation and sectoral growth. He said the event continues to foster investment opportunities while promoting transparency and sustainable practices in the mining industry.
Similarly, the Permanent Secretary, Ministry of Solid Minerals Development, Mr. Faruk Yabo, said the ministry was building a technology-driven, transparent, and investor-friendly environment to encourage value addition in the sector. He added that the goal was to ensure Nigeria transitions from exporting raw minerals to producing value-added products that create jobs and increase national income.
The 2025 Nigeria Mining Week, themed “Nigeria Mining: From Progress to Global Relevance,” reflects the country’s ambition to reposition the solid minerals sector as a major pillar of economic diversification, industrial growth, and sustainable development.