The Minister of Solid Minerals Development, Dr. Dele Alake, on Wednesday said reforms in the mining sector under President Bola Ahmed Tinubu’s administration have delivered “progressive and, in several cases, revolutionary” results, boosting revenue, restoring security, and positioning the South-West as Nigeria’s leading contributor to mining income.
Speaking at the South-West Leaders Conference in Akure, Alake said mining revenue rose sharply from N8.6 billion in 2022 to N14.9 billion in 2023 and N38 billion in 2024. Between January and September 2025, the sector generated over N30 billion, with the South-West contributing N7.2 billion — the highest from any region.
According to him, the administration’s Seven-Point Agenda for the sector has strengthened regulation, enforced compliance, and curbed illegal mining. He cited the deployment of Mining Marshals, the restoration of more than 90 sites previously occupied by bandits, over 300 ongoing prosecutions, and the lifting of the five-year mining ban in Zamfara State.
Alake announced that a new satellite-based mines monitoring system funded with N2.5 billion has mapped all mineral licences and coordinates nationwide, enabling real-time tracking of mining activity to detect illegal operations and boost revenue.
He highlighted the South-West’s growing influence in the sector, noting that companies from the region hold 1,801 of Nigeria’s 9,592 mineral titles. Ogun leads the region with 481 titles, followed by Oyo (440) and Osun (374). The region also hosts the Segilola/Thor gold project, which recorded $193 million turnover in 2024 and employs over 2,000 people.
The minister said 46 private mineral buying centres and 369 cooperatives have been licensed in the South-West as part of efforts to formalise artisanal mining. Ninety-nine Community Development Agreements have been signed in the region — 45 in the last two years alone — ensuring mining firms invest in host communities.
Alake added that reforms, including the revocation of 3,794 inactive licences, have driven increased activity at the Mining Cadastral Office, whose revenue grew from N6 billion in 2023 to N12.5 billion in 2024 and N26.7 billion so far in 2025.
He also announced progress in attracting investment for value-added processing, including a coming $400 million rare earth plant and lithium processing projects worth $1.7 billion.
Citing data from the Nigerian Bureau of Statistics, Alake said the solid minerals sector’s growth rose from 2.84% in 2023 to 4.85% in 2024, with its GDP contribution increasing from 5.56% to 5.64%.
He urged traditional and political leaders in the South-West to support government efforts against illegal mining and back cooperative-driven community participation.
“Our past is a story already told. Our future shall be written in gold,” he said
