Dele Alake, minister of solid minerals development, says the federal government collected N6.95 billion in mining fees in the first quarter (Q1) of 2025.
In an X post on Monday highlighting key developments in the mining sector, Alake said the government also registered 118 new private mineral buying centres within the period.
According to the minister, the achievements are a direct reflection of dedicated efforts to raise awareness and attract 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 also said the government is finalising the establishment of the Nigerian Solid Minerals Corporation, a special-purpose vehicle that will elevate Nigeria’s mining space into the global environment.
The structure, Alake said, is being set up in collaboration with the Ministry of Finance Incorporated (MOFI), and will allow Nigerians to invest through a public offering.
Announcing successful international partnerships, he said the French government recently committed to equipping the Nigeria Geological Survey Agency (NGSA) laboratory and training young geologists in modern 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.”
Speaking on the impact of the government’s value addition policy, Alake said it has strengthened local mineral processing and positioned Nigeria as a leader in the African mining sector.
He said Nigeria’s push for value addition and firm stance against the indiscriminate export of raw minerals earned the country the pioneer chairmanship of the African Minerals Strategy Group (AMSG).
The minister added that the government aims to leverage the position to attract more investments into Africa and Nigeria.