By Our Correspondent
Revenue generated from Nigeria’s solid minerals sector and paid into the Federation Account rose significantly to N58.64 billion in the first ten months of 2025, representing a growth of more than 54 per cent compared to the same period in 2024.
The strong performance underscores the growing contribution of the solid minerals industry to national revenue and reflects ongoing reforms aimed at improving transparency, boosting production and formalising mining activities across the country.
Industry analysts attribute the surge to improved regulatory oversight, increased investor participation and heightened enforcement against illegal mining, which has helped channel more proceeds into government coffers.
The development is being hailed as a major boost to Nigeria’s economic diversification drive, as the country continues to reduce its reliance on oil revenue and unlock the vast potential of its mineral resources.
With sustained reforms and increased private sector engagement, stakeholders believe the solid minerals sector is well positioned to deliver even stronger revenue performance in the coming years, create jobs and support inclusive economic growth.
