Nigeria’s solid minerals sector generated N6.96 billion in mining license fees in the first quarter of 2025, according to the Minister of Solid Minerals Development, Dr Dele Alake.
Speaking at the OECD Forum themed “Better Policies for Better Lives” in Paris, France, over the weekend, the minister revealed that ongoing reforms under the Bola Tinubu administration are delivering tangible results.
In a statement released by his Special Assistant on Media, Segun Tomori, Dr Alake disclosed that nearly 1,000 title applications were processed and hundreds of mining licenses approved during the quarter. He added that over 1,200 artisanal and small-scale mining cooperatives were formalised and 118 private mineral buying centres registered, boosting formal activity and regulatory oversight.
According to the 9am News report, Dr Alake also stressed Africa’s strategic position in the global shift toward green energy, given the continent’s vast reserves of critical minerals like lithium, cobalt, copper, and tantalum. He called for a continental pivot from exporting raw materials to developing value-added processing capabilities and high-value mineral supply chains.
“As Chair of the Africa Mineral Strategy Group (AMSG), I work closely with my counterparts to promote value addition, resource mobilisation, and responsible development,” he said. “Our focus is clear—unlocking inclusive growth from Africa’s vast mineral wealth.”
The minister emphasised that Nigeria is open to global partnerships aimed at responsible sourcing, sustainable extraction, and beneficiation, while also strengthening domestic infrastructure and processing capabilities. He described the ongoing energy transition as a pivotal moment for African nations to lead in ethical and sustainable resource development.
Dr Alake reiterated that Nigeria offers investor-friendly incentives, including import duty waivers, accelerated capital allowances, and tax holidays, all underpinned by reforms targeting sustainability, transparency, and long-term economic value.
He concluded by stating: “The future of electricity, transportation, telecommunications, and indeed global prosperity depends on the work we do here. Let us embrace this opportunity—not just to discuss change, but to drive it.”
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