By Fatima Saka
The Federal Government has called for urgent and strategic capital market investments to unlock Nigeria’s estimated $700 billion solid mineral wealth, positioning the sector as a new frontier for economic growth under the Renewed Hope Agenda of President Bola Ahmed Tinubu.
Speaking at a high-level webinar hosted by NASD Plc and the Solid Minerals Development Fund (SMDF), the Honourable Minister of Solid Minerals Development, Dr. Dele Alake, represented by his Senior Adviser on Mining and Policy, Mrs. Amira Adamu Waziri, stressed that Nigeria’s mining renaissance hinges on bold capital market participation.
“The capital market is a critical pillar in the journey toward a sustainable mining sector,” Alake said. “It can mobilize long-term financing for exploration, support junior mining companies, and channel institutional capital into infrastructure and processing hubs.”
The Minister outlined a seven-point reform agenda that includes:
Creation of a national mining corporation
Deployment of a special Mines Marshals force
Acceleration of geological data acquisition
Formalization of artisanal mining
Expansion of local mineral processing
Attraction of large-scale investments
Deepening stakeholder engagement
Alake emphasized that political will and regulatory clarity are already in place, but unlocking the sector’s vast potential requires capital, technology, and strategic partnerships.
To address Nigeria’s mining financing bottlenecks, SMDF Executive Secretary Hajia Fatimah Shinkafi, represented by Mr. Abdulmajeed Amussah, announced the launch of three innovative funding vehicles:
Growth Fund: Supports early-stage exploration and project development
Opportunities Fund: Accelerates development-ready projects and mining infrastructure
Research Fund: Funds policy development, data generation, and innovation
Amussah noted that most mining projects in Nigeria remain stalled at exploration and feasibility stages, making them unattractive to commercial lenders. “Our goal is to move them along the development curve,” he said.
The event also highlighted sectoral imbalances in credit allocation, with mining receiving negligible support compared to agriculture and transportation. SMDF has earmarked ₦10 billion to catalyze investments and crowd in institutional finance.
In a bid to modernize and democratize access to mining investments, NASD Plc Chief Executive Officer, Mr. Eguarekhide Longe, unveiled the National Digital Securities Platform (N-DSP), a blockchain-based infrastructure that will support tokenized mining securities including debt, equity, and mineral-backed instruments.
“This initiative will help drive investment into exploration, production, and processing, while promoting transparency and broader capital market participation,” Longe said, noting its alignment with government’s agenda to transition from raw ore exports to in-country value addition.
Reinforcing the momentum, Executive Commissioner at the Securities and Exchange Commission (SEC), Mr. Bola Ajomole, disclosed that over 867 mining licenses have been issued in 2025 alone, generating ₦7 billion in revenue.
He confirmed SEC is developing new investment tools such as mining bonds and royalty-backed securities under the revised Investment Securities Act.
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“The capital market must not merely observe the mining renaissance, it must fund it,” Ajomole stated.
The federal government’s ambitious mining reform strategy aims to position the sector as a core pillar of Nigeria’s post-oil economy, driven by inclusive investment, innovation, and industrial value chains.
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