The Federal Government raked in N6.96 billion in mining fees and registered 118 new private mineral buying centres in the first quarter of 2025, Minister of Solid Minerals Development, Dr. Dele Alake, has announced.
Speaking at the 2nd Annual Mining Conference hosted by BusinessDay in Abuja, Alake said the revenue, collected through the Mining Cadastral Office (MCO), stemmed from 955 applications for mining titles. Of these, 651 were for exploration, 270 for small-scale mining, 49 for quarrying, and 24 for reconnaissance.
He disclosed that 867 applications were approved, including 512 exploration licences, 295 small-scale mining leases, 60 quarry leases, and five mining leases.
The collected fees came from annual service charges, processing, and title renewal.
Alake noted that the Ministry has strengthened its conflict resolution mechanism to reduce disputes arising from overlapping claims and litigations.
He also revealed significant strides toward establishing the Nigerian Solid Minerals Corporation — a strategic vehicle aimed at positioning Nigeria among top global mining nations. Beauty products
According to him, the corporation’s structure is being finalised in collaboration with the Ministry of Finance Incorporated (MOFI). Once launched, it will offer 25% equity to the public, 25% to the government, and 50% to private investors.
Alake hailed the Ministry’s revenue drive, noting that it surpassed its 2024 projection of N11 billion by an additional N27 billion, bringing the total to N38 billion.
He highlighted international collaborations boosting Nigeria’s mining ecosystem, including France’s commitment to equip the Nigeria Geological Survey Agency’s lab and train young geologists, as agreed under an MOU signed by Presidents Bola Tinubu and Emmanuel Macron. Beauty products
Western Australia has also approved regular training for Nigerian mining professionals, with the first cohort set to depart next month.
Additionally, Alake said investors from Britain and Saudi Arabia are exploring opportunities across Nigeria’s mineral value chain. A recent MOU with South Africa on geology capacity building is also expected to deepen sectoral knowledge.
Alake attributed Nigeria’s rising influence in Africa’s mining sector to its value addition policy. “We have emerged as the pioneer chairperson of the African Minerals Strategy Group (AMSG) because of our opposition to the indiscriminate export of raw minerals,” he said.
He further disclosed that the impact is already visible, with new refining plants for lithium, bauxite, and gold expected to be commissioned before the end of the quarter.