FG Made Nearly N7 Billion From Mining Fees in Q1 2025 – Dele Alake
The Federal Government has made significant strides in its mining sector, collecting a total of N6,957,826,200 in mining fees during the first quarter of 2025, according to the Minister of Solid Minerals, Dele Alake. This milestone marks a promising start for Nigeria’s mining industry, reflecting increased awareness and investor interest in the sector.
In a statement, Minister Alake highlighted the proactive role of the Mining Cadastral Office (MCO), which processed 955 applications for various permits, 49 for quarrying, and 24 for reconnaissance permits. I’m proud to say that we approved a total of 867 applications. These approvals included 651 exploration licenses, which consisted of 512 exploration licenses, 295 small-scale mining leases, 60 quarry leases, 270 small-scale mining leases, 60 quarry leases, and five mining leases. Alake expressed pride in these accomplishments, stating that they are “a direct reflection of our dedicated efforts to raise awareness and attract investors to our vibrant mining industry.”
A major highlight of the sector’s future is the ongoing establishment of the Nigerian Solid Minerals Corporation, which is designed to position Nigeria on the global mining stage. “This structure will serve as a special-purpose vehicle to elevate Nigeria into the global mining arena,” Alake explained, adding that the corporation will allow Nigerians to invest through a public offering.
International partnerships are also playing a key role in the sector’s growth. A recent memorandum of understanding (MOU) between President Bola Tinubu and French President Emmanuel Macron is expected to enhance Nigeria’s geological capacity. Under this agreement, the French government will equip the laboratory of the Nigeria Geological Survey Agency (NGSA) and train young geologists in modern mining techniques. Additionally, the Government of Western Australia has approved regular training for Nigerian mining professionals, with the first group set to depart next month.
Alake further emphasized the government’s commitment to value addition in the mining industry, noting that Nigeria is now a leader in Africa’s mining landscape. “Our advocacy for value addition and our stand against the indiscriminate export of raw minerals have made us pioneers in the African Minerals Strategy Group (AMSG),” he said.
