Minister of Solid Minerals Development, Dele Alake, has declared that the “repositioning” of Nigeria’s mining industry as a key driver of national revenue is now the federal government’s top economic priority—aimed squarely at closing the widening fiscal gap left by declining oil receipts. With crude oil revenue lagging behind targets by nearly 62% in 2025, according to NNPCL data, the administration is doubling down on a strategic pivot toward mineral wealth, launching a comprehensive Nigeria solid minerals sector repositioning 2026 agenda focused on formalizing artisanal mining and attracting high-value foreign investment.
Speaking at the National Mining Summit in Abuja, Alake emphasized that Nigeria’s vast untapped mineral reserves—particularly in gold, lithium, niobium, tantalite, and limestone—represent not just geological assets, but economic lifelines. “Oil will remain part of our story,” he said. “But it can no longer be the whole chapter. The future of revenue diversification lies beneath our feet.”
The 2026 roadmap builds on a year of sweeping policy reforms launched in 2025, including:
- Overhaul of the Mining Act to improve transparency and ease of licensing
- Launch of the National Artisanal and Small-Scale Mining (ASM) Formalization Program
- Creation of a One-Stop Investment Desk for international miners
- Digital cadastre system rollout to reduce disputes over land rights
A major pillar of this Nigeria solid minerals sector repositioning 2026 plan is the integration of informal miners—over 500,000 estimated workers operating across Niger, Kaduna, Osun, and Zamfara states—into the legal economy. Under the new ASM program, artisanal miners are being organized into cooperatives, provided with safer tools, trained in environmental management, and linked to certified buyers and export channels.
“This isn’t about shutting people down,” said Minister Alake. “It’s about bringing them into the light—where they pay taxes, access finance, and operate safely.”
To attract big-ticket foreign direct investment (FDI), the ministry has identified priority zones rich in gold and battery-grade lithium—critical for global energy transition technologies. Partnerships are already underway with Canadian, Australian, and Chinese exploration firms, while development finance institutions like the African Development Bank (AfDB) and the World Bank have pledged support for infrastructure and skills development.
States like Osun are already seeing results. At the Ilesa Goldfields, mechanized mining operations backed by private investors began commercial production in Q4 2025, generating over $12 million in export earnings—a figure expected to grow fivefold by 2027.
Additionally, limestone-rich regions such as Benue and Cross River are being positioned to feed Nigeria’s growing cement and construction industries, reducing reliance on imports and supporting local job creation.
However, challenges persist. Security remains a concern in mining communities, where illegal operations often overlap with criminal networks. There are also calls for stronger enforcement of environmental safeguards and benefit-sharing mechanisms to ensure host communities gain from resource extraction.
Still, momentum is building. With oil contributing less than 5% to GDP and public debt rising, the need for alternative revenue streams has never been more urgent.
And as the Nigeria solid minerals sector repositioning 2026 gains pace, one truth emerges clearly:
Nigeria’s next economic frontier may not come from under the ocean.
It may come from under the soil.
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