“Nigeria has no reason to be poor, not when God has blessed our land with abundant resources and talented people,” President Bola Ahmed Tinubu declared on Tuesday, reaffirming his administration’s resolve to turn the nation’s mineral wealth into engines of growth and shared prosperity.
Speaking at the 10th Nigeria Mining Week held at the Abuja Continental Hotel, Tinubu represented by the Secretary to the Government of the Federation (SGF), Senator George Akume said the ongoing reforms in the solid minerals sector are already yielding significant results. According to him, the sector generated ₦38 billion in 2024, a sixfold jump from ₦6 billion in 2023, reflecting improved policy direction and accountability.
“Our challenge is to harness these God-given potentials to bring prosperity to all. Let us turn our minerals into miracles of development. Let ‘From Minerals to Miracles’ be our rallying cry,” Tinubu said.
The President announced a ₦1 trillion investment the largest in Nigeria’s mining history dedicated to geoscientific exploration, data generation, and mining infrastructure across mineral-rich regions. The fund, drawn from the ₦4.5 trillion increase in the 2025 national budget, underscores the administration’s determination to diversify the economy and reduce dependence on oil.
He also disclosed the creation of the Nigeria Solid Minerals Company, a special-purpose investment vehicle that will serve as the “engine room” for mobilizing capital, structuring joint ventures, and boosting local mineral processing and beneficiation.
“Vision alone is not enough it requires decisive action and investment. The Nigeria Solid Minerals Company will ensure that the wealth beneath our feet becomes prosperity in our hands,” the President said.
Tinubu warned that his administration would not repeat the mistakes of the past that led to environmental degradation and inequity in resource-rich regions.
“We will not allow the errors of the past to be repeated. The wealth from mining must heal and build, not hurt or divide,” he vowed. “We are enforcing strict environmental regulations and promoting transparency through the Extractive Industries Transparency Initiative (EITI).”
He assured investors of improved security across mining corridors, with targeted measures to protect host communities, workers, and investors. He also pledged that every mining community would benefit from local employment, fair compensation, and infrastructure development.
Envisioning a vibrant future for the sector, Tinubu said:
“Imagine a Nigeria where gold from Zamfara powers a jewelry industry in Abuja, tin from Plateau drives electronics in Lagos, and limestone from Ogun builds our cities. This is not a distant dream it is within reach.”
The President commended the Miners Association of Nigeria, PwC Nigeria, and VUKA Group for sustaining the Mining Week as a premier platform for policy dialogue and investment, calling it “a continental beacon of transformation.”
Earlier, the Minister of Solid Minerals Development, Dr. Dele Alake, reaffirmed that the sector’s contribution to the GDP has risen sharply now accounting for 4.6 percent without any additional budgetary allocation, which he described as proof of effective reform implementation.
“From all available evidence, the results of our policy initiatives and reforms are yielding,” Alake said. “But we could not have done this aloneit is because of the unfettered cooperation and appreciation of stakeholders that we’ve achieved this much.”
Alake noted that Nigeria’s mining reforms are now attracting continental recognition, with several African nations adopting the country’s model through the newly formed African Mineral Plantation Group, where Nigeria plays a leading role.
He also disclosed that the government is closing key financing gaps in the sector, including foreign investment shortfalls, through innovative models under the African Joint Committee (AJC) framework to empower local investors.
The 10th Nigeria Mining Week, themed “Nigeria Mining: From Progress to Global Relevance,” brought together policymakers, investors, and development partners to chart the future of Nigeria’s mining industry cementing the nation’s rise as Africa’s next hub for responsible, value-added mineral development.
