President Bola Ahmed Tinubu has reaffirmed his administration’s determination to transform Nigeria’s solid minerals into engines of national prosperity, declaring that the country has “no reason to remain poor” despite its vast natural wealth.
Speaking at the opening of the 2025 Nigeria Mining Week in Abuja on Wednesday, Tinubu — represented by the Secretary to the Government of the Federation, Senator George Akume — said the time had come for Nigeria to move from potential to productivity.
“Nigeria has no reason to be poor, given our abundant resources and talented people,” the President 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.”
Tinubu described the annual mining week as a growing global platform that brings together policymakers, investors, and stakeholders to chart Nigeria’s path to economic diversification and industrial growth.
Nigeria’s Leadership Role in Africa
Reaffirming Nigeria’s continental influence, the President said a thriving mining sector in Nigeria would inspire other African nations to embrace value-added mineral processing and industrialization.
“When our mining sector thrives, it signals that value-added resource development is Africa’s way forward,” Tinubu said.
He noted that Africa holds about 30 per cent of the world’s known mineral reserves, including critical minerals that power the global energy transition.
“We must harness this wealth responsibly, ensuring that more value remains within our economies through job creation and industrial clusters,” he added.
NEITI Calls for Transparent Framework
Earlier, the Nigeria Extractive Industries Transparency Initiative (NEITI) called for a harmonized and transparent regulatory framework to sustain growth and attract long-term investments in the solid minerals sector.
Chris Ochonu, NEITI’s Deputy Director of Communications and Stakeholders Management, said policy overlaps and multiple taxation were discouraging investors despite improvements in licensing processes.
“To sustain the gains, policymakers must ensure predictability, transparency, and effective coordination across agencies,” Ochonu said.
Sector Still Below Potential — NEITI Report
The Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, said the mining industry was at a “defining moment,” with reforms aimed at repositioning it as a cornerstone of Nigeria’s economic diversification and energy transition strategy.
Citing NEITI’s 2023 Solid Minerals Industry Report, Orji revealed that the sector’s contribution to GDP remains below 1%, though revenues rose from ₦339.57 billion in 2022 to ₦401.87 billion in 2023.
He said artisanal and small-scale miners accounted for over 80% of total production but contributed less than 30% of royalties, exposing deep governance and structural gaps that require urgent reform.
Alake Highlights Ongoing Reforms
Also speaking, the Minister of Solid Minerals Development, Dr. Oladele Alake, outlined ongoing reforms under the Tinubu administration to modernize mining regulation, improve security in mineral-producing areas, and attract private investment.
On the sidelines of the event, Dr. Orji addressed a special mining forum organized by the Kaduna Mining Development Company, where he emphasized transparency and accountability as key to boosting investor confidence and state-level productivity.
He said sub-national mining companies could play a strategic role in driving institutional reforms and creating sustainable economic growth across state economies.
