LunagisthubNigeria’s Solid Minerals Sector Sees Significant Growth, Remits N63.92 Billion in 11 Months
The Nigerian solid minerals sector has recorded a significant growth in revenue, remitting N63.92 billion into the Federation Account between January and November 2025. This development underscores the growing fiscal relevance of the extractive sub-sector, despite the volatility that characterizes its contribution to national revenue .
The sector’s revenue performance was marked by sharp fluctuations throughout the year. The first quarter saw a relatively modest start, with January and February remittances totaling N7.96 billion. March recorded the weakest monthly performance, with remittances falling to N2.15 billion. However, a decisive turnaround began in April, with remittances surging to N7.88 billion, more than tripling the March figure .
Strong Second Quarter: The second quarter emerged as the fiscal high point for the solid minerals industry, with May recording the strongest month of the year, N9.66 billion.
Improved Performance: The sector’s revenue performance improved significantly in the third quarter, with July, August, and September recording N5.84 billion, N6.23 billion, and N7.32 billion, respectively.
Late-Year Moderation: November inflows eased to N5.28 billion, reflecting disruptions in mining activity and logistics, partly due to a sudden rise in insecurity across parts of the country .
The Nigerian government has implemented reforms aimed at boosting the solid minerals sector, including tightening licensing requirements and mandatory local processing. These reforms have led to increased revenue and attracted foreign investment, with over $800 million invested in processing projects last year .
The sector is expected to continue growing, driven by government support and investment in mineral exploration. The Minister of Solid Minerals Development has announced plans to increase funding for mineral exploration, with a budget allocation of N1 trillion targeted at generating internationally certified geological data .
Lunagisthub
