Solid Minerals Exports Hit ₦354bn Amid Aggressive Reform Campaign

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…

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CBN Acquires Local Gold to Lift Reserves 

  Nigeria’s foreign reserves received a notable addition as the Central Bank of Nigeria incorporated responsibly sourced gold refined to international standards, elevating its total gold holdings to $3.5 billion and advancing efforts to diversify away from traditional assets amid global economic shifts. The move, part of an ongoing reserve diversification strategy, involves gold aggregated…

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Nigeria, AfDB Push African Mineral Processing

Nigeria Secures $1.3bn Alumina Deal to Revive Mining Sector

The Federal Government has signed a landmark $1.3 billion agreement with the Africa Finance Corporation (AFC) to build a massive alumina refinery. This project, coordinated through the Solid Minerals Development Fund (SMDF), marks the largest private investment in Nigeria’s mining history. The facility aims to process one million tonnes of bauxite ore annually using the…

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