Solid Minerals Exports Hit ₦354bn Amid Aggressive Reform Campaign

Nigeria’s mining sector has delivered its strongest performance in decades. Solid minerals exports reached ₦354 billion in 2025 as policy shifts begin to shake off years of stagnation.  The Executive Secretary and Chief Executive Officer of the Solid Minerals Development Fund (SMDF), Hajiya Fatima Shinkafi, notes that the industry grew by 33.5 per cent in real terms over the last year. This expansion aggressively outpaced the broader national economy, which recorded a modest 3.9 per cent growth. Abuja’s long-delayed diversification drive is finally showing vital signs of life.

The sudden surge stems from a massive spike in direct state revenues. Earnings collected by the federation rose from ₦16 billion in 2023 to more than ₦70 billion in 2025. This fiscal turnaround reflects a 337 per cent increase achieved within a 24-month window. Officials attribute the gains to tighter regulatory oversight and a crackdown on illegal mining rings. Improved geological data management also helped formalize operators’ scale-up operations.

Despite these impressive milestones, the sector still plays a marginal role in international trade. The ₦354 billion export value represents just 0.4 per cent of total national exports. It accounts for a mere three per cent of non-oil export earnings. At independence, mining brought in nearly five per cent of total trade revenue. Reclaiming that historical baseline requires a massive escalation in industrial output.

Foreign capital is gradually moving into local processing. Regulatory changes introduced since late 2023 have secured 2.6 billion dollars in fresh investment commitments. The headline project is a 1.3 billion-dollar alumina refinery designed to process 1.5 million tonnes annually. This project stands as the largest single mining investment in national history. Local processing will keep manufacturing value within domestic borders.

Abuja wants to expand the mining economy twenty-fivefold by 2030. The policy target aims for a ₦30 trillion valuation, representing three per cent of gross domestic product. Reaching this milestone will require deep institutional collaboration between state agencies, private miners, and universities. The state has launched a competitive grant system to fund domestic geoscience research. Success depends entirely on sustaining this administrative momentum.