Hajiya Fatima Shinkafi, head of the Solid Minerals Development Fund, announced that Nigeria’s solid mineral exports surged to ₦354 billion in 2025. Speaking at the University of Lagos, she credited this performance to ongoing government reforms aimed at boosting the sector’s contribution to the national economy. The government currently aims to increase the sector’s GDP share to three percent by 2030, a goal spearheaded by Minister of Solid Minerals Development, Dr. Dele Alake.
Although Nigeria holds over 44 types of commercially viable minerals across 500 sites, the industry currently contributes less than one percent to the nation’s GDP. The ₦354 billion in exports represents approximately 0.4 percent of total national exports. Revenue generated for the federation has risen sharply, moving from ₦16 billion in 2023 to ₦70 billion in 2025. Additionally, the sector achieved 33.5 percent real growth in 2025, far outpacing the overall national GDP growth rate of 3.9 percent.
Shinkafi pointed out that policy shifts since 2023 have drawn 2.6 billion dollars in investment pledges, such as a major alumina refinery venture. She also introduced the EMERGE grant, launched in June 2026, which provides financial support for geoscience research at universities. University of Lagos Vice-Chancellor Prof. Folasade Ogunsola and Dean Prof. Olayinka Asekun both emphasized the school’s dedication to partnering with the industrial sector to foster practical research and national growth.
