In Q1 2025, Nigeria’s federal government collected ₦6.95 billion in mining fees and registered 118 private mineral buying centres, indicating strong efforts to attract investors. The Nigerian Solid Minerals Corporation is being established to enhance investment opportunities. Partnerships with international entities aim to modernise training and technology in the sector, reinforcing Nigeria’s leadership in African mining.
Dele Alake, Nigeria’s Minister of Solid Minerals Development, announced that the federal government collected ₦6.95 billion in mining fees in Q1 2025. In his recent post, he highlighted achievements including the registration of 118 new private mineral buying centres, demonstrating efforts to boost investor interest in the mining sector.
Alake stated, “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 ₦6,957,826,200 in mining fees and registered 118 new private mineral buying centers.” The Mining Cadastral Office processed 955 applications for various mining titles, with a total of 867 applications approved.
The government is also in the process of establishing the Nigerian Solid Minerals Corporation, designed to enhance investment opportunities in the mining sector. This initiative involves collaboration with the Ministry of Finance Incorporated (MOFI) for a public offering.
Alake announced successful international partnerships, including a commitment from the French government to enhance the Nigeria Geological Survey Agency (NGSA) laboratory and train geologists. Training for Nigerian mining professionals is also scheduled in Western Australia, and further investments have been secured from British and Saudi entities.
Alake noted that Nigeria’s focus on value addition has strengthened local mineral processing, positioning the country as a leader in African mining. The government’s robust stance against the export of unprocessed minerals has earned Nigeria the position of chair of the African Minerals Strategy Group.
In summary, Nigeria’s mining sector is seeing significant developments, including a substantial collection of mining fees and the establishment of private mineral buying centres. Strong international partnerships and a focus on local processing highlight the government’s commitment to attracting investment and enhancing the mining landscape. Through these efforts, Nigeria aims to position itself as a leader in Africa’s mining industry.
Original Source: www.thecable.ng