The Ministry of Solid Minerals Development has recorded a 337% increase in revenue, under the leadership of the Minister of Solid Minerals Development, Dr Dele Alake
‎This was revealed on Sunday by the Special Assistant on Media to the Minister, Segun Tomori,
‎He attributed the growth to wide-ranging reforms and strategic policies that repositioned the nation’s mining sector and attracted renewed global interest.
‎According to Tomori, revenue from the sector increased from N16 billion in 2023 to N38 billion in 2024 and was projected to exceed N70 billion in 2025.
‎He said the improvement followed the implementation of Alake’s seven-point agenda, which focused on reforms, transparency, investor confidence and local value addition.
‎Tomori added that the revenue growth, though unprecedented, remained a fraction of the sector’s vast potential, adding that reforms will be consolidated in 2026 to make solid minerals a major contributor to Nigeria’s Gross Domestic Product.
Edited by Favour Owonibi.