By Gabriel Ewepu
Nigeria’s solid minerals exports have sustained uptrend rising to N354 billion in 2025, up by 2018 percent from N117.29 billion recorded in 2023. The figure for nine months 2024 was N199.6 billion with full year estimated to be over N266 billion.
Similarly, revenue generated for the Federation Account climbed to over N70 billion, representing a 337.5 per cent increase from N16 billion recorded in 2023
Disclosing the performance at the maiden Annual Lecture of the Faculty of Physical and Earth Sciences, University of Lagos, the Executive Secretary and Chief Executive Officer of the Solid Minerals Development Fund (SMDF), Hajiya Fatima Shinkafi, said the improved performance reflects the impact of reforms under the Federal Government’s plan to expand the sector’s contribution to Gross Domestic Product (GDP) from less than one per cent currently to three per cent by 2030, in line with the Seven-Point Agenda of the Minister of Solid Minerals Development, Dr. Dele Alake.
Despite Nigeria possessing more than 44 commercially viable minerals across over 500 locations, including gold, lithium, iron ore, coal, bitumen, barite and gemstones, she noted that the sector remains significantly underdeveloped.
