Exports of solid minerals from Nigeria climbed to N354 billion in 2025, marking a significant increase from the N117.29 billion documented in 2023. These figures were provided by Hajiya Fatima Shinkafi, the Executive Secretary of the Solid Minerals Development Fund, during an event at the University of Lagos. She attributed this growth to government reforms aimed at raising the sector’s contribution to the national GDP from under one percent to three percent by 2030.
Revenue for the Federation Account from the mining sector also surged, reaching over N70 billion in 2025 compared to N16 billion in 2023. Shinkafi noted that while Nigeria holds vast mineral wealth across 500 locations, including lithium, gold, and iron ore, the industry remains largely untapped. Current reforms, initiated in 2023 under Minister Dr. Dele Alake, focus on formalizing artisanal mining, improving geoscience data, and securing investments.
The sector achieved a 33.5 percent real growth rate in 2025, significantly higher than the country’s broader 3.9 percent economic growth. Since the reforms began, Nigeria has secured approximately $2.6 billion in new investment commitments, headlined by a $1.3 billion alumina refinery project. The government remains focused on its objective to expand the sector’s value to N30 trillion by the end of the decade.
