President Bola Tinubu has stated that Nigeria is richly endowed with solid mineral deposits and should not remain impoverished.
Speaking on Wednesday at the 2025 Nigeria Mining Week in Abuja, Tinubu, represented by Secretary to the Government of the Federation Senator George Akume, said, “Nigeria has no reason to be poor, given our abundant resources and talented people. Our challenge is to harness these potentials to bring prosperity to all. Let us turn our minerals into miracles of development. ‘Minerals to Miracles’ must be our rallying cry.”
He described the Mining Week as “an emerging global forum generating ideas to guide the nation’s journey toward economic renewal through investor and company collaboration” and assured that the Federal Government would ensure mining areas across Nigeria remain safe for all stakeholders, including investors, workers, and host communities.
Highlighting Nigeria’s continental leadership role, Tinubu said, “When our mining sector thrives, it signals that value-added resource development is Africa’s way forward.” He noted that Africa holds around 30 per cent of the world’s known mineral reserves, including significant critical minerals driving the 21st-century global economy, and stressed the need to harness this wealth responsibly to retain more value domestically, create jobs, and develop industrial clusters.
Earlier, Chris Ochonu, Deputy Director of Communications & Stakeholder Management at the Nigeria Extractive Industries Transparency Initiative (NEITI), urged policymakers to establish a harmonised, transparent, and predictable regulatory framework for the solid minerals sector to sustain growth and attract long-term investment. He noted that, despite improvements in licensing, policy overlaps and multiple taxation remain major obstacles to credible investment.
NEITI Executive Secretary Dr. Orji Ogbonnaya Orji said Nigeria’s mining sector is at a defining moment, undergoing reforms to transform it from an informal, underperforming space into a cornerstone of economic diversification and the energy transition strategy. Citing NEITI’s 2023 Solid Minerals Industry Report, he noted that the sector’s GDP contribution remains below 1%, even though revenue rose modestly from ₦339.57 billion in 2022 to ₦401.87 billion in 2023. Dr. Orji highlighted that artisanal and small-scale mining accounts for over 80% of production but contributes less than 30% of royalties, revealing deep governance and structural challenges.
Minister of Solid Minerals Development Oladele Alake provided a status report on reforms aimed at transforming the sector into a driver of economic growth. On the sidelines of Mining Week, Dr. Orji also addressed a forum organised by the Kaduna Mining Development Company, stressing the importance of transparency and accountability in enhancing productivity, investor confidence, and sustainable impact. He outlined how sub-national mining companies can strategically drive institutional reforms and attract investment into state economies.