Nigeria Earns N6.95 Billion from Mining, Registers 118 New Mineral Buying Centers in Q1 2025

The Federal Government collected N6.95 billion in mining fees during the first quarter of 2025. The announcement marks a major step in the drive to boost Nigeria’s mining industry and attract global investors.

Dele Alake, Minister of Solid Minerals Development, shared the update on X. He also revealed that 118 new private mineral buying centers were registered during the same period. According to him, these milestones reflect the government’s focused efforts to grow the sector.

Alake said the Mining Cadastral Office (MCO) processed 955 applications for mining titles. These included 651 for exploration, 270 for small-scale mining, 49 for quarrying, and 24 for reconnaissance permits.

Out of these, the government approved 867 applications. The approvals included 512 exploration licenses, 295 small-scale mining leases, 60 quarry leases, and five full mining leases.

He also disclosed plans to launch the Nigerian Solid Minerals Corporation. The new body will serve as a special-purpose vehicle to push the mining sector onto the global stage. It will work with the Ministry of Finance Incorporated (MOFI), allowing Nigerians to invest through public offerings.

Global Partnerships Strengthen Nigeria’s Mining Capacity

Alake announced key international partnerships. France will help equip the Nigeria Geological Survey Agency (NGSA) laboratory. It will also train young geologists in modern mining methods. The agreement came from a memorandum of understanding between President Bola Tinubu and French President Emmanuel Macron.

Western Australia has also approved training programs for Nigerian mining professionals. The first group will leave next month. Alake noted growing investments from British and Saudi firms across the mining value chain.

Nigeria also signed a new MOU with South Africa to boost geological development.

Alake credited the government’s value addition policy for strengthening local mineral processing. He said the policy helped Nigeria emerge as a leader in Africa’s mining sector. Due to these efforts, Nigeria now chairs the African Minerals Strategy Group (AMSG).

The government plans to use this leadership role to attract more investment into the country and across the continent.