Nigeria's Mining Revenue Hits ₦68.1bn Amid Major Sector Reforms

Nigeria's mining sector has generated ₦68.1 billion in revenue and attracted over $800 million in investments by 2025, as stated by Minister Dr. Dele Alake. This transformation involves moving from raw exports to value-added mining, driven by reforms including stricter regulations and the introduction of mandatory value-addition plans.

Key projects include a $600 million lithium processing plant and a $1 billion iron ore-to-steel initiative in Kogi State. The government is consolidating mining cooperatives to enhance productivity and reduce illegal activities.

On a continental scale, Alake emphasized the need for African nations to cooperate regionally to maximize opportunities in the global mineral economy. Despite abundant resources, Africa has historically exported raw materials without significant processing, limiting economic growth. Addressing infrastructure and regulatory challenges will be critical for building integrated mineral value chains.