Tinubu Injects ₦1 TRILLION into Mining As Sector’s Revenue Rises Sixfold
- Targets $1 Trillion Economy By 2030
Nigeria’s solid minerals sector has entered a new era of expansion as President Bola Ahmed Tinubu announced a ₦1 trillion investment package—the largest in the nation’s history—to position mining as a cornerstone of the country’s economic diversification strategy.
Delivering the keynote at the 10th Nigeria Mining Week 2025 in Abuja, President Tinubu said the fund, drawn from a ₦4.5 trillion increase in the 2025 national budget, will finance geoscientific exploration, detailed geological surveys, and critical infrastructure across mineral-rich regions to boost local value addition.
Represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, the President said “This is the single largest investment ever made in Nigeria’s mining industry,” Tinubu declared. “We are determined to turn the wealth beneath our feet into prosperity in our hands.”
According to him, the sector’s revenue has jumped from ₦6 billion in 2023 to ₦38 billion in 2024, representing a sixfold increase attributed to improved policy coordination, oversight, and transparency.
“We must never again allow the fate of our economy to rest on one resource,” the President added. “Mining must now stand beside oil as a national growth pillar.”
Dele Alake, minister of Solid Minerals Development, described solid minerals as Nigeria’s next major job-creating sector, stressing that leadership courage—not a lack of policy—has been the missing link in driving sectoral progress.
“What we lacked was not policy but courageous minds like President Tinubu’s to implement them,” Alake said.
He noted that the Ministry under his watch has recorded 4.6% growth in sector revenue, earning recognition as one of the most transparent institutions in government.
“Business is no longer as usual. Policy implementation must now be taken seriously if we want real growth. Local value chains must be developed, and our natural assets treated as national treasures,” he stated, pledging that the Ministry would continue pushing until mining becomes the “economic pilot” of the nation.
Prince Shuaibu Abubakar Audu, minister of Steel Development, reaffirmed that the revival of Nigeria’s steel sector is central to President Tinubu’s broader plan for industrialisation.
“The steel industry is the backbone of national development. Once revived, it will power manufacturing, infrastructure, and job creation,” Audu said, noting that new public-private partnerships are being structured to reactivate dormant steel plants and link mining to industrial output.
Stakeholders Endorse Government Reforms
Dele Ayanleke, president, Miners Association of Nigeria (MAN), applauded the administration’s reforms and transparency drive, noting that Nigeria Mining Week has evolved into a major policy-shaping platform over the past decade.
“As we look to the future, the challenges we face—from illegal mining to infrastructure gaps—must become stepping stones for progress,” Ayanleke said. He urged inclusive reform and investor participation, adding, “Together, we can transform mining into a cornerstone of Nigeria’s $1 trillion economy by 2030.”
Faruk Yabo, permanent secretary, ministry of Solid Minerals Development reaffirmed the Ministry’s commitment to a technology-driven, transparent, and investor-friendly sector, in alignment with global standards and sustainability goals.
VUKA Group: A Decade of Partnership and Progress Welcoming over 3,500 delegates, Samukelo Madlabane, event director of Nigeria Mining Week and representative of VUKA Group, described the 10th anniversary edition as “a celebration of a decade of dedication, dialogue, and development.”
A Turning Point for Economic Diversification
.......Now in its 10th year, Nigeria Mining Week—jointly organised by MAN, PwC Nigeria, and VUKA Group, and officially hosted by the Ministry of Solid Minerals Development—has grown into West Africa’s premier investment and policy platform.
With President Tinubu’s ₦1 trillion investment and renewed private sector confidence, analysts forecast that the sector could attract over ₦10 trillion in private capital inflows within five years, driving GDP contribution from below 1% to as high as 10% by 2030.
As Dr. Alake summed up, “The solid minerals revolution has begun—and this time, business will not be as usual.”
quickly: To get to the World Cup is to win the next three matches out of 4.
Most important is win the Africa ticket if we do that we will be the highest ranked team in the intercontinental playoffs and play the weakest side to qualify
So win Gabon and the win either Cameroon or Dr Congo
And then play either of Bolivia,Jamaica or Honduras or Iran for the World Cup ticket
sreamsense: You are the one that psychologically scammed here! Christians follow Jesus example and not Britain even if the first becomes last. Christianity is the salt of this world, without christian values, love and freedom; you yourself will not enjoin this world. Christianity doesn't force you after showing you the love of Christ and the hope of eternal inheritance you have in him unlike other religion that opens entry but closes exit door. It is only in your imagination you taught they have abandoned Christianity. Has she now declare herself as atheist, Islam or Hindus country?
Christianity still remains the most populous religion on Earth, the most educated, richest religion on earth and most powerful (USA) that God that created heaven and earth handed over affair of this world. Without liberality of USA and strength of Jews, this world would have been so much unleavable if Islamic terrorists are not being prematurely sent away to queue for their 72 virgins. Imagine what this world will look like if all Islamic terrorists from Osama bin laden are still alife by now.
Christianity is marching ON, you are the one that is ideologically scammed. People that are far more educated and brilliant minds than you are too many in Christianity. There are uncountable number of professors (secular and religion), engineers of great minds, researchers, inventors, doctors, lawyers and many more. They are more knowledgeable and richer than you, so you are the one Satan scammed by replacing your virtues with mere philosophical stories to deceive you.
Way out for you is to have personal encounter with Jesus Christ himself so that you will be able to know that you are the one scammed and not those brilliant minds that have one on one relationship with Christ. When you are lonely, humble yourself, ask God to forgive you and ask him to please if he is real to show Himself to you that you are confused. Jesus is full of love, he will show himself to you to know close to 3 billions of Jesus worldwide are serving living God that is not among the deads. May Jesus extend His love to you when you seek His face in humility and simplicity of heart
Talk about being totally brainwashed by absolute nonsense.
There was NOBODY called "Jesus Son of God".
A complete LIE AND FALSEHOOD with ZERO EVIDENCE of his existence, never mind the ridiculous "MIRACLES" claimed for him.
Funny how your "Lord and saviour" supposedly came 2,000 years ago but only remembered to share his "gospel" with you a mere 100 years ago when the British decided to steal and loot your resources via colonial Invasion.
All of a sudden it became REALLY IMPORTANT for you to "KNOW JESUS".
Maryam Sanda was one of 175 inmates and ex-convicts granted a presidential clemency by President Bola Ahmed Tinubu, after being sentenced to death in 2017 for killing her husband.
Her pardon sparked widespread criticism, with the presidential spokesperson Bayo Onanuga saying that the plea was anchored on her good conduct in jail, her remorse, and her demonstrating her commitment to being a model prisoner.
Somebody tell Rufai that Tinubu is the PRESIDENT OF NIGERIA, and therefore has the CONSTITUTIONAL AUTHORITY to pardon ANY Nigerian for crimes committed, based on HIS conscience.
And tell Rufai that if he can't stand seeing Tinubu exercise his Presidential powers, he can LEAVE THE COUNTRY.
DomPerignon: The reason boils down to an entitled mentality by their people who expect FG to do everything for them while they leave their governors to loot the dry.
The SE is the most FG dependable.
90% of revenue to the region comes from the FG and most of that wasn't generated in the SE in the first place.
The people down there and their governors have a silent agreement which is ''you don't tax us, we don't hold you accountable '' .
The same people are also more accommodating to their governors brazenly looting and diverting public resources to their personal portfolios just as PETER OBI did during his tenure as governor because the people see politics as business to which those who scale through have the right to recoup their '' investments '' in running for office with heavy returns.
It goes just beyond their thieving inept governors . During the PDP era, an inherited Obasanjo unwritten policy towards placating SE PDP politicians was to award Federal roads maintainance to same PDP politicians. These projects were used not only to placate SE PDP politicians but as kickbacks and future campaign slush funds.
The policy was so entrenched in binding contracts that the subsequent Yaradua govt had no choice but to continue paying those crooks who hardly mobilized to site even after being paid and if they do, will carry out shoddy works.
This was one reason the Enugu - PHC road was an eyesore for most of PDP's 16yr rule.
When Buhari came onboard , he decided to cancel all those contracts and advertised a new contract for the rehabilitation of Federal roads in the SE. All foreign contractors did not apply knowing the level of criminality and extortion in the SE and they knew the former contractors will do everything to chase them away by mobilizing their criminal thugs.
The FG then had no choice than to do direct labour through the ministry of Works. This is one of the few legacies of the Buhari govt and to his credit he fixed most federal roads in the SE through direct labour under the ministry of works.
The level of irresponsibility of SE governors since 1999 to their citizenry has no part 2.
Other than the last immediate governor of Enugu, Umahi of Ebonyi and Solodu , all the rest have been useless.
You're right. It's only recently that they began having governors with mentality beyond personal enrichment.
Tammy2705: WOW, I CAN SEE THOSE POLITICIANS, THUGS, CORRUPT PEOPLE LICKING THEIR LIPS AND SAYING TO THEMSELVES HOW MUCH THEY ARE GOING TO TAKE OR WILL BE THERE SHARE FROM THIS,
kettykin: You are quite correct on this, I carried a feasibility study of the Lagos to Abuja railway with someone and I realized that Nigeria just made the biggest white elephant project. That project is not viable, this is more like a debt trap. Lagos just took a $3b facility for a railway expansion project which will never be viable. Thank God the generation of governors didn't continue the project, instead of that they should invest in electricity project and electric mass transit system
Railway networks are a PUBLIC SERVICE. They are NOT designed to be ''profitable''.
Who is supposed to eat the 'profit' or 'recouped expenditure' that you are so desperate to see?
You?
Railway networks are to help reduce the cost of doing business, ease transportation hassles, reduce weight on the roads, and promote tourism. Agricultural products and farmers are a big part of it as well, as goods from remote areas can reach urban destinations quicker and easier etc etc. The benefits/success of rail investment projects are seen in how they contribute to GDP as a whole, not on whether the cost of the railway projects are recouped by the govt.
DomPerignon: During the coinciding tenures of Obi (Anamabra), T. Orji (Abi) and that of Enugu, these 3 states signed an MOU with a Canadian firm to construct monorail lines in each state. This was sometime in 2010.
15ys later, not an inch of rail has been constructed.
The company GLOBIM which obviously had no experience whatsoever was only a conduit to syphon funds in the name of consultation.
You can google : ''Globim signs agreement with [insert any of the states mentioned here]
At the time Giromgory and Orji were signing fake MOUs meant to only syphon money in the name of consultation, Lagos state was drawing out and perfecting their own plans for a light rail system.
Lagos has rolled out several rail routes which are functioning and just signed another contract for a bran new route.
Instead of doing busy body for who pass you , why not demand from Giringori and his fellow failures in your SE why they stopped short of carrying out the project after signing MOUs with this obvious money laundry SPV.
I'm so happy you brought this up.
The biggest problem facing the southeast is not Abuja or Tinubu, but the uselessness of their state governors.
No vision. All they think of is how to loot money and buy mansions in America.
Give me one reason why a big city like Onitsha cannot arrange for even a small light rail system, even using Direct labour?
Nothing stops them. Just laziness and lack of visionary leadership or care for the people.
Every so often they will do a photo-op with some foreign company claiming there's a project coming up, and you never hear anything about it after that. Of course it's all corruption, like you explained.
If it's to post your pseudo-scientific, baseless, quack, discredited ''racial IQ lists'' placing black people last on Earth, you rushed to Front page it.
The same black people without whom there would be no internet or computers.
Or mathematics, writing, medicine, law, architecture, mining, metallurgy, astronomy, philosophy, international trade or shipping.
jedisco: The kind of things one sees on Nairaland. It's quite easy to brainwash many to see themselves as inferior
No wonder many have low self esteem.
What was this study based off?
It’s based off NOTHING.
Just some white kids in America (this kind of stuff ALWAYS COMES FROM AMERICA, nowhere else), white racists that sit in their mum’s basement and post anti-black TRASH like this.
AND THEN NAIRALAND, OWNED BY THE SAME WHITE SUPREMACIST GROUPS, posts in their Front Page.
OTHER AFRICAN COUNTRIES FROM BURKINA FASO TO MALI ARE RISING UP AGAINST WESTERN THEFT AND EXPLOITATION, while NAIRALAND IN NIGERIA is still peddling WHITE SUPREMACY and BLACK INFERIORITY.
A bunch of white high school DROPOUT racist MAGA in America will create an “IQ list of countries”, placing blacks at the bottom, and then Nairaland puts it on Front Page.
Politics › Tinubu Injects ₦1 Trillion Into Mining As Sector’s Revenue Rises Sixfold by Kushites(op): 6:11am On Oct 15, 2025
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