Nigeria’s Mining Revenue Increases by 337% in Two Years: CEO of Solid Minerals Development Fund
Nigeria’s Mining Revenue Increases by 337% in Two Years: CEO of Solid Minerals Development Fund
Nigeria’s solid minerals sector generated over $50.8 million in revenue in 2025, a massive increase from $11.6 million in 2023, driven by ongoing government reforms, Executive Secretary and CEO of the Solid Minerals Development Fund (SMDF), Hajiya Fatima Umaru Shinkafi, said as reported by local media.
Key sector milestones highlighted by the CEO include:
▪Rapid Growth: The mining sector expanded by 33.5% in 2025, far outpacing the 3.9% national GDP growth.
▪Massive Investments: Reforms attracted $2.6 billion in new commitments, including a $1.3 billion alumina refinery, as the government targets a $22 billion industry by 2030.
▪Boosting Research: The SMDF launched the EMERGE grant to fund master’s and PhD geoscience research in Nigerian universities, bridging the gap between academia and commercial mineral exploration.
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