President Bola Tinubu has stated that Nigeria must no longer remain poor despite its vast deposits of solid minerals, calling for a renewed national commitment to transforming the country’s resource wealth into long-term economic prosperity.
Speaking at the 2025 Nigeria Mining Week held in Abuja, the President represented by the Secretary to the Government of the Federation, Senator George Akume described the country’s mineral wealth as a powerful but underutilized tool for national development.
“Nigeria has no reason to be poor, given our abundant resources and talented people,” he said.
“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.”
President Tinubu described the Nigeria Mining Week as an emerging global platform that is helping to shape the nation’s economic trajectory through strategic dialogue and collaboration between government, investors, and operators. He reaffirmed the Federal Government’s commitment to creating a secure and business-friendly environment across all mining zones, ensuring the safety of investors, workers, and host communities alike.
“When our mining sector thrives, it signals that value-added resource development is Africa’s way forward,” he added.
Highlighting Africa’s strategic importance to the global economy, the President noted that the continent holds approximately 30 percent of the world’s known mineral reserves—including many critical minerals essential to 21st-century industrialization. He urged African nations to manage these resources responsibly and ensure more value remains within their own economies through job creation and the development of local industries.
“We must harness this wealth responsibly, ensuring that more value remains within our economies, creating jobs and industrial clusters,” he said.
The forum also drew insights from the Nigeria Extractive Industries Transparency Initiative (NEITI), with the organization’s Executive Secretary, Dr. Orji Ogbonnaya Orji, describing Nigeria’s mining sector as standing at a defining moment. According to him, recent reforms are targeting the transition of the industry from an informal and underperforming state into a central pillar of Nigeria’s economic diversification and energy transition plans.
He referenced NEITI’s 2023 Solid Minerals Industry Report, which revealed that although revenues grew from ₦339.57 billion in 2022 to ₦401.87 billion in 2023, the sector’s contribution to GDP remains below 1 percent.
“Our data further reveal that artisanal and small-scale mining accounted for over 80 percent of total production volumes but contributed less than 30 percent of royalties paid. This underscores deep governance and structural challenges that demand urgent reform,” he said.
Speaking during a special mining forum hosted by the Kaduna Mining Development Company on the sidelines of the event, Dr. Orji also emphasized the importance of transparency and accountability in repositioning state-owned mining enterprises. He stressed that sub-national mining companies can play a strategic role in attracting investment and driving institutional reform, particularly at the state level.
In a related address, NEITI’s Deputy Director of Communications and Stakeholders Management, Chris Ochonu, urged policymakers to establish a harmonized, transparent, and predictable regulatory framework for Nigeria’s solid minerals sector. He noted that while the licensing process has improved, unresolved issues such as policy overlaps and multiple taxation continue to deter credible investors and limit sectoral growth.
“There is a need for equal attention to these structural challenges if the sector is to realize its full potential,” he said.
The Minister of Solid Minerals Development, Dr. Oladele Alake, also delivered a comprehensive update on reforms initiated by the Tinubu administration. He outlined steps taken to reposition the sector as a growth driver for the national economy, including new monitoring mechanisms, policy interventions, and investment incentives.
As global demand for critical minerals intensifies, the 2025 Nigeria Mining Week has reinforced its role as a key platform for policy dialogue, investment mobilization, and collaborative action. For Nigeria, the path forward is clear: its mineral wealth must become the foundation of a more prosperous, inclusive, and industrialized future.
