By Fatima Saka, Abuja
President Bola Ahmed Tinubu has emphasizied on the ₦1 trillion allocation to Nigeria’s Solid Minerals Sector in the 2025 National Budget as a bold and strategic step toward diversifying the nation’s economy and reducing over-reliance on oil revenues.
Speaking at the 10th Nigeria Mining Week in Abuja, the President, represented by the Secretary to the Government of the Federation, Mr. George Akume, said the investment marks the largest single allocation in Nigeria’s mining history. He emphasized that the move reflects his administration’s determination to transform the sector into a major driver of growth, jobs, and sustainable development.
“Let us turn our minerals into miracles of development,” President Tinubu said. “The wealth beneath our feet must become prosperity in our hands.”
The President noted that ongoing reforms in the mining sector are already yielding positive results, revealing that solid minerals revenue surged from ₦6 billion in 2023 to ₦38 billion in 2024, a sixfold increase driven by improved oversight and strategic policies.
He highlighted the establishment of the Nigerian Solid Minerals Corporation as a special-purpose government investment vehicle to accelerate mineral exploration, processing, and public-private partnerships.
Tinubu commended Nigeria Mining Week as a landmark event that has evolved into a premier platform connecting stakeholders, from artisanal miners to international investors, to shape policy, forge partnerships, and drive sustainable sector growth.
Recalling the nation’s mining legacy in cities like Jos and Enugu, once renowned global centers for tin and coal, the President lamented the neglect that followed Nigeria’s shift to oil dependence. He assured that renewed commitment and targeted investments would restore the country’s mining prominence.
President Tinubu also reaffirmed his administration’s commitment to environmentally responsible and transparent mining practices, pledging stricter enforcement of environmental regulations, rehabilitation of mined sites, and adherence to global standards such as the Extractive Industries Transparency Initiative (EITI).
“We will not repeat the environmental degradation of the Niger Delta or the unsustainable gold rushes of the past,” he said. “Every policy we make, every contract we sign must serve the Nigerian people.”
Positioning Nigeria as a continental leader in beneficiation and value addition, President Tinubu called on investors to partner with the country in creating local jobs and fostering innovation.
“Imagine a Nigeria where Nigerian-made batteries, solar panels, and precious metals are exported globally,” he said. “This is not a distant dream, it is achievable.”
The President announced the appointment of the pioneer Managing Director and Chief Executive Officer of the Nigeria Solid Minerals Company, which will serve as the “engine room” for project implementation, infrastructure joint ventures, and mineral processing.
He urged state governors, traditional rulers, international partners, and host communities to actively participate in building the future of mining in Nigeria.
READ ALSO: 2025 ACF: Stakeholders, Nigeria, Kenya Governments Unite to Drive Africa’s Green Transition in Belém
IPAC Calls for Comprehensive Electoral Reforms Ahead of 2027 Polls
“You will not be bystanders,you will be the protagonists,” Tinubu said.
Commending the Miners Association of Nigeria, PwC, VUKA Group, and the Federal Ministry of Solid Minerals Development for their efforts, the President added, “Let us all play our part. Let us turn minerals into miracles. Nigeria’s transformation is already underway.”
About the Author
