FG Targets Mining Sector Expansion As Alake Unveils Reforms To Boost Investment, Revenue

The Federal Government says ongoing reforms in the solid minerals sector are laying a strong foundation for economic diversification, increased investment inflow, higher revenue generation and accelerated industrialisation across the country.

Minister of Solid Minerals Development, Dele Alake, stated this while speaking at the official launch of the Early-Stage Mineral Exploration and Research Grant Endowment (EMERGE) programme in Abuja,

Dr. Alake said Nigeria’s mining industry was gradually transitioning from years of neglect to a sector capable of driving national prosperity.

He said the administration inherited a mining sector plagued by weak regulation, illegal operations, poor data systems and low investor confidence, but noted that deliberate reforms had begun yielding measurable results.

According to him, the Federal Government had prioritised solid minerals development under its economic diversification agenda, with policies designed to reposition mining as a major contributor to national revenue.

The minister disclosed that Nigeria had attracted about $2.2 billion in mining-related investments in recent years, attributing the development to policy consistency, improved regulation and efforts to sanitise the operating environment.

He explained that one of the major obstacles to mining investment had been the lack of reliable geological data, stressing that investors require verified information before committing resources to exploration and production.

Alake noted that only a small portion of Nigeria’s landmass had been adequately mapped for mineral deposits over the years, despite the country’s vast deposits of gold, lithium, copper, nickel and rare earth minerals needed for global energy transition.

To bridge the gap, he said the government had strengthened partnerships with countries including Australia, France, South Africa and Turkey in areas of geological research, technology transfer and capacity building.

The minister also highlighted government efforts to tackle illegal mining, describing it as a major challenge affecting revenue generation and national security.

He said the ministry introduced a formalisation process for artisanal miners, allowing them to organise into recognised cooperatives, gain access to financing and operate legally within the formal economy.

According to him, the establishment of Mining Marshals has further strengthened enforcement against illegal mining activities, while protecting licensed operators and critical mining infrastructure.

Alake added that the government had also digitised the mining licensing process through the Mining Cadastre Office to improve transparency, reduce abuse and eliminate speculative ownership of mining titles.

He revealed that more than 3,000 dormant mining licences had been revoked to free up opportunities for genuine investors willing to actively develop mineral assets.

On local value addition, the minister said Nigeria was gradually moving away from exporting raw minerals, with policies encouraging in-country processing and manufacturing to increase economic value and job creation.

He stated that several lithium processing plants, gold refineries and mineral-processing factories worth millions of dollars were already emerging across the country, while the EMERGE initiative would further support mineral exploration, research and innovation needed to sustain long-term sectoral growth.

On her part, the Executive Secretary of the Solid Minerals Development Fund, Fatima Shinkafi emphasised that data-driven exploration remains central to modern mining economies, noting that countries with strong geological databases attract more investments and achieve greater value from their mineral resources.

According to her, the launch of EMERGE signals Nigeria’s determination to shift from merely exporting raw mineral resources to building a globally competitive mining ecosystem anchored on research, innovation and local value addition.