₦airaland Forum

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.”

Kushites:
Tinubu Injects ₦1 TRILLION into Mining As Sector’s Revenue Rises Sixfold

- Targets $1 Trillion Economy By 2030




https://businessday.ng/news/article/tinubu-injects-%E2%82%A61trn-into-mining-as-sectors-revenue-rises-sixfold/

Kushites:
Nobody dare remove this man from office.

Just respect yourself and let the man finish his work.

Because I'm seeing some very good things coming from this FG. 😑

surgical:
Na this audio way he take build lagos ,that latter became a mantra meanwhile he didn't do anything, he has started propaganda to make it look like he is doing something but the people can't feel it ,they know its all lies ,they are not deceived

Kushites:
Nobody dare remove this man from office.

Just respect yourself and let the man finish his work.

Because I'm seeing some very good things coming from this FG. 😑

Kushites:
Nobody dare remove this man from office.

Just respect yourself and let the man finish his work.

Because I'm seeing some very good things coming from this FG. 😑

anonimi:
World Bank offers Nigeria forex rate advice, as Tinubu eyes N200/Dollar rate

April 23, 2023

The President-elect said he would work with the Central Bank of Nigeria (CBN) to *bring down the exchange rate to N200 in his first term.*

“My administration will collaborate with the Central Bank to harmonize the fiscal and monetary policy to achieve immediate stabilization of the value of the naira against the US dollars and other currencies and in the short term, strengthen the naira by boosting the supply of foreign currency and moderating demand.

“The short-term goal is to achieve a naira/dollar rate of 300 naira/US$ and gradually achieve a less than 200 naira rate over the next four years, Tinubu stated.

https://www.ripplesnigeria.com/world-bank-offers-nigeria-forex-rate-advice-as-tinubu-eyes-n200-dollar-rate/?amp

oluseyiforjesus:
900billion will be looted

TimeManager:
The Federal Government has revealed that the elimination of the petrol subsidy under President Bola Tinubu has resulted in savings of over $84 billion, which are now being channelled into the construction and rehabilitation of 40 key road projects across the country over the past two years.

This was disclosed in a policy brief released by the National Orientation Agency (NOA), titled “Two Years Later: Key Benefits of Subsidy Removal,” and made available to journalists over the weekend in Abuja.

The report, which reviewed the outcomes of the subsidy removal since May 29, 2023, noted that the policy averted a looming economic crisis.

It also enabled the Tinubu administration to clear long-standing financial liabilities, increase capital investments, and support the financial stability of state governments.

https://businessday.ng/news/article/84bn-saved-from-petrol-subsidy-now-financing-40-key-roads-report/?amp

TimeManager:
The Federal Government has revealed that the elimination of the petrol subsidy under President Bola Tinubu has resulted in savings of over $84 billion, which are now being channelled into the construction and rehabilitation of 40 key road projects across the country over the past two years.

This was disclosed in a policy brief released by the National Orientation Agency (NOA), titled “Two Years Later: Key Benefits of Subsidy Removal,” and made available to journalists over the weekend in Abuja.

The report, which reviewed the outcomes of the subsidy removal since May 29, 2023, noted that the policy averted a looming economic crisis.

It also enabled the Tinubu administration to clear long-standing financial liabilities, increase capital investments, and support the financial stability of state governments.

https://businessday.ng/news/article/84bn-saved-from-petrol-subsidy-now-financing-40-key-roads-report/?amp

oluseyiforjesus:
900billion will be looted

Kushites:
Nobody dare remove this man from office.

Just respect yourself and let the man finish his work.

Because I'm seeing some very good things coming from this FG. 😑

surgical:
Na this audio way he take build lagos ,that latter became a mantra meanwhile he didn't do anything, he has started propaganda to make it look like he is doing something but the people can't feel it ,they know its all lies ,they are not deceived