The Federal Government says it has generated an impressive N6.95 billion from mining fees in the first quarter of 2025, the Minister of Solid Minerals Development, Dele Alake, has announced.
Alake in a post on his official X handle on Monday disclosed that 118 new private mineral buying centers were registered within the period, reflecting the government’s efforts to raise awareness and attract investors to the sector.
According to Alake, the achievements are a direct reflection of our dedicated efforts to raise awareness and attract investors to our vibrant mining industry.
The Mining Cadastral Office processed 955 applications for title grants, approving 867, including exploration licenses, small-scale mining leases, and quarry leases.
The government is finalizing the establishment of the Nigerian Solid Minerals Corporation, a special-purpose vehicle that will allow Nigerians to invest through a public offering.
Alake said: “I’m proud to say that we approved a total of 867 applications, which consisted of 512 exploration licenses, 295 small-scale mining leases, 60 quarry leases, and 5 mining leases.”
International partnerships have also been secured, with the French government committing to equip the Nigeria Geological Survey Agency laboratory and train young geologists, he said.
Alake noted that investments from British and Saudi Arabian entities are also being explored, and an MOU was signed with South Africa to enhance geological capacity.
The minister attributed the sector’s growth to the government’s value addition policy, saying it has positioned Nigeria as a leader in the African mining sector.
“Nigeria’s push for value addition and firm stance against the indiscriminate export of raw minerals earned the country the pioneer chairmanship of the African Minerals Strategy Group (AMSG),” Alake said.
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