Nigeria’s mining sector earned about ₦68.1 billion in 2025. This is a big increase from ₦38 billion in 2024 and ₦6 billion when the current government came into power.
The rise in revenue is mainly due to new government reforms. In April 2024, the government cancelled 924 inactive mining licences. These included exploration licences, mining leases, quarry leases, and small-scale mining permits. The goal was to stop people from holding licences without using them and to allow serious investors to take over.
The Minister of Solid Minerals Development, Dele Alake, said the reforms are focused on improving productivity and enforcing mining laws. The government is also using digital systems like the eMC+ platform to manage mining activities better.
As a result of these changes:
Revenue in 2024 rose to over ₦38 billion
By November 2025, ₦63.92 billion had already been paid into the Federation Account
Royalties increased by ₦19.3 billion (over 110%)
Licensing revenue grew to ₦12.58 billion
More investors are also entering the sector:
142 new mining companies registered
Mineral Buying Centres increased to 431
Mineral production rose sharply by over 500,000 tonnes
The government has also supported small-scale miners by forming over 250 cooperatives. Enforcement has improved too, with hundreds of arrests and some convictions for illegal mining.
Going forward, the government now requires companies to process minerals locally instead of exporting raw materials. This is expected to create jobs and support industrial growth.
However, challenges like poor infrastructure and lack of data still exist. The government plans to address these while making the sector more attractive and secure for investors.
