ABUJA — The Federal Government has announced a significant surge in mining revenue, which rose from approximately ₦12 billion to over ₦50 billion in 2025, alongside the issuance of 867 new mining licences within the year.
The disclosure was made on Thursday by the Minister of Solid Minerals Development, Dr. Henry Dele Alake, who attributed the achievements to President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises economic diversification through solid minerals, institutional strengthening, skills development, and entrepreneurship.
Alake, represented by the Permanent Secretary of the Ministry, Engr. Faruk Yusuf Yabo, spoke at the 15th induction and out-taking ceremony of the Council of Nigerian Mining Engineers and Geoscientists (COMEG) in Abuja.
“The Ministry sees COMEG not just as a regulator, but as a key implementing partner. A competent, ethical and technology-driven professional community is essential to unlocking Nigeria’s vast mineral resources,” the Minister stated.
He outlined key reform areas where COMEG’s efforts align with federal priorities, including the digital transformation of mining processes, mandatory entrepreneurship training, strengthened disciplinary frameworks, and the formalisation of artisanal and small-scale mining—which still accounts for over 80% of mining activities in Nigeria.
The government is building a fully digital mining ecosystem through platforms such as the electronic mining cadastral system and decision-support tools, while also expanding nationwide geophysical surveys. Increased exploration activities are expected in the new year following presidential approval of additional funding.
Alake also announced plans for an artisanal and small-scale mining development fund to support cooperatives and integrate informal miners into the formal economy, adding that efforts were ongoing to benchmark Nigerian mining and geoscience qualifications internationally.
Earlier, COMEG Registrar/CEO, Prof. Zacheus Opafunso, commended the Minister and the Permanent Secretary for their support, particularly in securing long-sought federal recognition for the council and facilitating its engagement with key government institutions.
He highlighted the introduction of mandatory geo-entrepreneurship training as a major step toward equipping Nigerian youths and mining professionals with practical business and innovation skills needed in the global minerals value chain.
The ceremony marked the formal induction of new mining engineers and geoscientists, reinforcing the government’s drive to position the solid minerals sector as a pillar of Nigeria’s quest for a $1 trillion economy.
