₦airaland Forum

Nigeria’s Solid Minerals Revenue Increases By 337%

Nigeria’s Ministry of Solid Minerals Development recorded 337% increase in revenue from ₦16 billion in 2023 to more than ₦70 billion in 2025.

According to the Ministry, revenue from the sector grew from N16 billion in 2023 to N38 billion in 2024 and is projected to exceed N70 billion by the end of 2025.

The improvement follows the implementation of the Minister of Solid Minerals Development Dr Dele Alake’s 7-point agenda, which focuses on reforms, transparency, investor confidence and local value addition.

As part of the reforms, the ministry:

* Revoked 1,633 mining licences in 2023 over non-payment of annual service fees.
* Revoked another 924 dormant licences early 2024 to create room for serious investors.
* Revised the guidelines for Community Development Agreements (CDAs) to ensure host communities give consent before mining licences are approved.
* Established mining marshals in March 2024 to tackle Illegal mining, identified as a major challenge in the sector.
* Arrested more than 300 illegal miners within a year, with about 150 currently being prosecuted and 98 illegal mining sites recovered.
* Introduced cooperative federalism which encourages states to apply for mining licences and operate via limited liability companies; This has resulted in joint venture investments in states like Nasarawa, Kaduna, Oyo and the Federal Capital Territory (FCT).
* Will start nationwide satellite surveillance of mining sites in 2026, to strengthen enforcement.

Multiple Lithium processing plants are now under construction across the country and a $400 million rare-earth metals facility is in the pipeline, with about $1.5 billion in foreign direct investment (FDI) attracted to the sector since 2023.

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God bless president Bola Ahmed Tinubu, GCFR.
God bless the Fed Rep of Nigeria.
God bless me and fellow compatriots.

This sharp increase in Nigeria’s solid minerals revenue is encouraging and shows that reforms in the mining sector are starting to pay off. According to recent data, revenue from solid minerals is projected to soar from about ₦16bn in 2023 to over ₦70bn in 2025, driven by policy changes, better compliance, and increased investor interest.

I just hope that ordinary Nigerians will feel the impact of this increase.

The confused coalition rather about insecurity than talking about Nigeria development.

Desperate criminals gathered to finish selling remaining part of Nigeria time didn't allow Atiku to sell when he was in power

Ask them what that will do differently then stammering will start

NaijaphiliaBlog:
Nigeria’s Solid Minerals Revenue Increases By 337%

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Why is Tinubu wrecking our country with so much debt when he is having higher revenues and saved $84 billion from subsidy removal?

What is the Lagos TAX monster planner doing with all these revenues and loans apart from stealing it to buy votes and bribe politicians to decamp into their A-looter Propaganda Congress, APC?

Is this how Tinubu wants to be life president like Cameroon’s Biya? Is this how he wants to succeed with his own 3rd term agenda that Obasanjo failed to achieve despite Ghana must go bags of bribes to NASS members in 2007



https://www.youtube.com/watch?v=vPytmuhYDAU

Rossychy:
I just hope that ordinary Nigerians will feel the impact of this increase.

Are you sure that you are not feeling the impact already in Tinubu’s renewed hope reform achievements that have stabilised our economy at N1,600/$1 and petrol of almost N1,000? Was that not enough to make Ngozi Okonjo Wahala approve of Tinubu’s performance?

Madam Rossychy just chill and enjoy impactful renewed hope of revenue increase without matching increase in government services and utilities. Is that not what Tinubu’s detty water Lagos TAX monster plan is about

fergie001:

https://www.youtube.com/watch?v=g5v-F81hNTs

The Permanent Secretary, Office of Drainage Services and Water Resources in Lagos State, Mahmood Adegbite, has said that people drilling borehole in the Lekki axis of the state is probably drinking ‘’shit water.”

While speaking at a stakeholders meeting in the state recently, Adegbite noted that contaminated boreholes in Lekki pose health risk and added that treatment of waste water would eradicate any form of disease that may arise from it.

He said, “On waste water treatment, I will say that everyone digging borehole within the Lekki axis is probably drinking what I will call ‘shit water.’

https://punchng.com/video-everyone-digging-borehole-in-lekki-is-probably-drinking-shit-water-lagos-govt/?fbclid=IwQ0xDSwMABDJjbGNrAwAEK2V4dG4DYWVtAjExAAEewOd7728C0FSKQJNWar4yKRxNpNKt1owSlw47y57FKAux2QxvQL24Iu18rtw_aem_3kB5Sd2GjpdqjN6zFuIs7w

Seventy billion naira isn't going to do much for our revenue , mind you.

Call me when the revenue is in the tens of trillions of naira, and maybe I will say we are going somewhere, but we are not there yet.

Revenue this, revenue that..
What is the impact on the life of Nigerians..

No improved health care
Many, many bad roads
Security is in shameful situations
Where's the electricity?

This is just paper economics....

The whole increase is because lithium is popular now. The lithium was laying dormant underground until Elon Musk made EVs popular and then the Chinese copied and ran with it as usual.
Nigeria owes it to the US to continue to create favorable business partnerships in rare earth minerals.

We are playing when we compared a whooping of $7.1B that’s over (N1 Trillion) generated in 2024 by Ghana. politics still plays bad role in revenue generation in Nigeria solid minerals.

Jagaban borgu
Dike-Si-Mba 1

Rossychy:
I just hope that ordinary Nigerians will feel the impact of this increase.

ordinary Nigerian follow b d cause of Nigeria problem.
anything dem increase price dem no dey wan reduce am

Richtaiwo:
God bless president Bola Ahmed Tinubu, GCFR.
God bless the Fed Rep of Nigeria.
God bless me and fellow compatriots.

Calm down and stop this otimkpu. There is so much revenue lost to illegal mining. Even before now nothing comes from the solid mineral sector.

Freetech:
The confused coalition rather about insecurity than talking about Nigeria development.

Desperate criminals gathered to finish selling remaining part of Nigeria time didn't allow Atiku to sell when he was in power

Ask them what that will do differently then stammering will start

What is the correlation with the topic?

Nigerianlion:
This sharp increase in Nigeria’s solid minerals revenue is encouraging and shows that reforms in the mining sector are starting to pay off. According to recent data, revenue from solid minerals is projected to soar from about ₦16bn in 2023 to over ₦70bn in 2025, driven by policy changes, better compliance, and increased investor interest.

That is very poor considering the volume of illegal mining going on. Please stop encouraging nonsense

Qoko:
We are playing when we compared a whooping of $7.1B that’s over (N1 Trillion) generated in 2024 by Ghana. politics still plays bad role in revenue generation in Nigeria solid minerals.

In 2024 Nigeria raised 7 trillion from VAT alone.

DMCA:
ordinary Nigerian follow b d cause of Nigeria problem.
anything dem increase price dem no dey wan reduce am

Na true you talk. Some of us no good. But whatever, let's enjoy the good of the land. It shouldn't be concentrated in the hands of a few.

Rossychy:
Na true you talk. Some of us no good. But whatever, let's enjoy the good of the land. It shouldn't be concentrated in the hands of a few.

e no go bad make I sample ur kukunase ruggedly

I always believed he would perform well because the president appointed him deliberately, not by accident. This outcome justifies that confidence. It shows that when the right person is placed in the right position with a clear mandate, results will follow

NaijaphiliaBlog:
Nigeria’s Solid Minerals Revenue Increases By 337%



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Is our gold inclusive? Or it's only oil and lithium that we have as natural resources?

lol dey play...

let us check it in dollar value, then we can make noise

in 2023, official exchange rate was 465 to 1 USD

that makes it N16 billion/ 465 = 34.41 million USD

in 2025 offical exchange rate ( average) was 1550 to 1 USD

that makes the revenue to be N70 billion /1550= 45.2 million USD

giving us a real growth of only 31%....

like i said... make dem dey play

Which revenue in solid mineral sector is the minister talking about?
Who wey him want deceive?
The only mineral wey FG the derive revenue to sustain Naija nah dey oil wey dey my Papa backyard.Nah the oil wey FG dey get strength to control im mining wey I no see shishi as host community.
But if nah solid mineral wey dey North,who born am to go get control for the mining there not to talk of getting the paltry 70b revenue in a year wey him dey talk about?
Solid mineral wey belong to the northern governors and other elites there and even Boko people and changi chang chinko people nah im him dey talk about revenue.
Abegi....talk another thing mbók!
If you doubt me go watch Senator Adams Oshimole video on what's going on there in the north for solid mineral sector.

DMCA:
e no go bad make I sample ur kukunase ruggedly

Power pass power!
Which one be kukunase? I need to upgrade my pigin skill

marvrick:
Is our gold inclusive? Or it's only oil and lithium that we have as natural resources?

Yes it is.

The revenue quoted covers all solid minerals.

All ds increase in revenue and natural resources did not reflect in d life of a common man. Govt of lies, govt of stupidity, govt of wickedness, govt of greed, govt of corruption, govt of thieves. Dey will tell us dat revenue money has increased and d money of natural resources has increased but yet dey borrow huge amount of money. Foolish people

Is the gold in Zamfara part of it?

Does this include the solid mineral in the north because I doubt bandits will be paying Jack to govt

They intentionally did not disclose the areas where those solid minerals are deposited that have brought in such an increase in revenue but I guarantee you, if you look well you will find out those are the areas they are sending Christians out of their ancestral lands and plaguing the place with illegal mining disguised as terrorism, in collaboration with some half open half closed eyes foreign nationals.

The revenue declared is also about 18-20 % percent of the actual derivations, una think say we be moo moo abi

Only God knows how much we are getting from our own mineral resources because they west don’t do win win for any reason they always want it all that why they just invade Venezuela and France been trying to assassinate Ibrahim Traoré .

If the deal is win win Venezuela will allow USA to drill .

The 337% figure is an inaccurate statistical value due to Naira devaluation.

As usual, the Tinubu led administration never shies away from publishing fake statistics.

Thats a lie. In three months, 70BN can be gotten from the Ministry. One company can pay 120M as annual service while the minimum is 1M.