The Nigerian Ministry of Solid Minerals Development is expected to generate over N70 billion within the next two years. This projected surge follows a series of sweeping reforms initiated by the President Bola Tinubu-led administration to diversify the nation’s economy.
Segun Tomori, the Special Assistant on Media to the Minister of Solid Minerals Development, disclosed this in a New Year message on January 1, 2026. He described the significant revenue leap as a deliberate result of strategic policy shifts rather than a mere coincidence.
▌From N16 Billion to N70 Billion: A Massive Growth Curve
According to the Ministry, the Ministry of Solid Minerals revenue has seen an astronomical rise since 2023. Tomori highlighted the steady upward trajectory of the sector’s financial contributions to the federation account.
“It is no happenstance that revenue from solid minerals has surged since the advent of the President Bola Tinubu administration,” Tomori stated. He provided a breakdown showing that the sector moved from a “paltry” N16 billion in 2023 to N38 billion in 2024. Under the leadership of Dr. Dele Alake, the sector is now positioned to cross the N70 billion threshold.
▌Dele Alake’s Seven-Point Agenda Drives Change
Since assuming office, Dr. Dele Alake has focused on redirecting global attention toward Nigeria’s vast mineral resources. This was largely achieved through his “seven-point agenda,” which prioritizes transparency and the removal of “portfolio investors.”
In a bid to sanitize the industry, the Ministry took the following actions:
- Late 2023: Revocation of 1,633 mining licenses due to default in annual service fees.
- Early 2024: Revocation of 924 dormant licenses to make room for serious domestic and foreign investors.
Furthermore, the Ministry revised the guidelines for Community Development Agreements (CDAs). This move ensures that the consent of host communities is now an integral requirement for any license application process.
▌Tackling Illegal Mining with Mining Marshals
One of the most significant hurdles for the sector has been the prevalence of illegal mining. To combat this, the government established the “Mining Marshals” in 2024. This specialized security unit has already yielded impressive results in securing mining sites.
Tomori recalled that within just one year of operation, over 300 illegal miners were apprehended. Additionally, 150 individuals are currently undergoing prosecution, and 98 illegal mining sites have been successfully recovered.
▌Looking Ahead: Satellite Surveillance in 2026
As the Ministry enters the new year, the government is set to enhance its enforcement capabilities. Tomori announced that nationwide satellite surveillance is scheduled to commence in 2026. This technology will allow the Ministry to monitor mining activities in real-time and further crack down on unauthorized operations.
Consequently, these reforms are expected to solidify the mining sector as a key pillar of Nigeria’s non-oil economy. With increased security and transparent licensing, the government aims to attract world-class mining giants to Nigerian soil.
