LAGOS – The Federal Government has declared that Nigeria’s solid minerals sector is on course for a massive transformation, with plans to grow the industry to ₦30 trillion and raise its contribution to the nation’s Gross Domestic Product (GDP) to three per cent by 2030.
The Executive Secretary and Chief Executive Officer of the Solid Minerals Development Fund (SMDF), Hajiya Fatima Umaru Shinkafi, made the disclosure while delivering the keynote address at the maiden Annual Lecture Series of the Faculty of Physical and Earth Sciences at the University of Lagos.
She revealed that reforms introduced under President Bola Ahmed Tinubu’s Renewed Hope Agenda and the Seven-Point Agenda of the Minister of Solid Minerals Development, Dr. Henry Dele Alake, have already attracted about 2.6 billion dollars in fresh mining investments.
According to her, the reforms have also boosted government revenue from the sector from ₦16 billion in 2023 to over ₦70 billion in 2025, representing a remarkable 337 per cent increase in just two years.
“The sector also recorded a real growth of 33.5 per cent in 2025, almost nine times Nigeria’s overall economic growth rate,” she said.
Shinkafi noted that despite Nigeria possessing more than 44 commercially viable minerals spread across over 500 locations, the sector currently contributes less than one per cent to the country’s GDP.
She said the government is determined to reverse the trend by attracting more private investment, tackling illegal mining, formalising artisanal miners, strengthening geological data, promoting local mineral processing and restoring sanity to the industry.
Highlighting one of the biggest achievements so far, she disclosed that Nigeria has secured a 1.3-billion-dollar alumina refinery project, the largest mining investment in the country’s history.
The SMDF boss also unveiled the Early-Stage Mineral Exploration and Research Grant Endowment (EMERGE), a new funding programme designed to support research and innovation in Nigerian universities.
She described EMERGE as the country’s first dedicated competitive grant scheme for geoscience research.
Under the initiative, exploration and critical minerals projects will receive up to 70 per cent funding, while research projects involving universities, research institutes and postgraduate students will enjoy 100 per cent funding, covering fieldwork, laboratory analysis and publication costs.
Shinkafi urged researchers to take advantage of the programme to develop practical solutions that will unlock Nigeria’s enormous mineral wealth.
“EMERGE is the first dedicated national funding platform for geoscience research in Nigerian universities. We want our researchers to drive the future of the mining industry,” she said.
She also challenged more women to venture into mining and geosciences, insisting that the industry offers equal opportunities for everyone.
“The minerals under our feet do not care who unlocks them,” she added.
Vice-Chancellor of the University of Lagos, Prof. Folasade Ogunsola, described the partnership between the university and SMDF as a major boost for research and national development.
Also speaking, the pioneer Dean of the Faculty of Physical and Earth Sciences, Prof. Olayinka Taiwo Asekun, pledged that the university would maximise the opportunities provided by the EMERGE initiative to produce research capable of transforming Nigeria’s mining sector.
