Nigeria’s solid minerals sector has seen a dramatic surge in revenue, with the Ministry reporting that earnings from the industry rose to more than N101 billion between January and September 2026, up from just N6 billion in 2023, Mr Alake said.
The figures cover the first nine months of 2026, marking a substantial increase in the sector’s contribution to the country’s economy. Mr Alake highlighted that the jump in revenue reflects a broader trend of growth across Nigeria’s extractive industries.
He attributed the sharp rise to a series of reforms introduced by President Bola Tinubu’s administration, which aimed to streamline licensing, improve regulatory oversight and enhance investment incentives for solid minerals exploration and production.
These reforms, launched early in President Tinubu’s term, have been designed to attract both local and foreign investment, increase transparency in the sector, and boost the overall value chain from extraction to export.
With Nigeria being Africa’s most populous country, the solid minerals sector’s performance is seen as a key indicator of the nation’s economic diversification and development prospects.
<small>Source: Premium Times Nigeria — read the original story there.</small>
