Nigeria raked in nearly ₦7 billion from mining license fees in the first quarter of 2025, a signal of rising investor confidence and growing momentum in the country’s solid minerals sector, according to Solid Minerals Development Minister, Dele Alake.
Speaking at the Organisation for Economic Cooperation and Development (OECD) Forum in Paris, France, Alake said the revenue surge is part of a broader effort by the Federal Government to formalise operations, promote sustainability, and stimulate value addition across Nigeria’s mining value chain.
“In Q1 2025, we generated nearly ₦7 billion in mining license fees, formalised over 1,200 artisanal cooperatives, and approved hundreds of licenses all while building investor confidence,” Alake said in a statement posted on his official X platform.
Alake, who also chairs the Africa Mineral Strategy Group (AMSG), stressed the need for African nations to play a central role in the global energy transition by leveraging their rich deposits of critical minerals such as lithium, cobalt, copper, and tantalum.
“Africa must move beyond exporting raw materials. It’s time to take ownership of the future of clean energy,” he declared.
The minister called for a paradigm shift towards value-added processing and the development of high-value mineral supply chains across the continent. He highlighted Nigeria’s role as a model for sustainable mineral development, while advocating for inclusive, long-term growth.
“As Chair of the AMSG, I work with leaders across Africa to push for value addition, responsible development, and resource mobilisation,” he said.
Alake further emphasized the importance of multi-stakeholder collaboration involving governments, civil society, and private investors in building resilient, transparent, and ethical supply chains.
“Nigeria is ready to partner globally to promote responsible sourcing and ensure long-term economic value for our people,” he stated.
With the clean energy transition accelerating globally, Alake said the stakes are high for African nations, urging bold leadership to ensure the continent is not left behind.
“The future of electricity, transportation, telecommunications, and indeed global prosperity depends on the decisions we make now. Let us lead the change, not just talk about it,” he concluded.
