Nigeria’s struggling solid minerals sector recorded a historic fiscal milestone in 2025, generating a total revenue of N68 billion within the 12-month period, representing a 79.2 per cent increase compared to the N38 billion recorded in 2024.
The figures were contained in a report presented by officials of the Ministry of Solid Minerals Development (MSMD) to the Technical Sub-Committee of the Federation Account Allocation Committee (FAAC) during its meeting in January 2026.
Titled “Report on Revenue Collected by the Ministry of Solid Mineral Development for the Month of December 2025,” the document provided a detailed overview of the sector’s revenue performance and fiscal trajectory. The solid minerals sector is widely regarded as a key pillar of Nigeria’s economic diversification strategy, as the country seeks to reduce its dependence on oil revenues.
Despite the strong year-on-year growth, analysis of the revenue figures showed that the sector fell short of the over N70 billion revenue target earlier projected by the ministry.
In December 2025, the Special Assistant on Media to the Minister of Solid Minerals Development, Dele Alake, Segun Tomori, had stated that the sector’s revenue was on course to reach N70 billion by the end of the year, up from N38 billion in 2024.
While the N68 billion generated represents a significant improvement on past performance, the shortfall highlights the gap between projected and actual earnings, underscoring the need for sustained reforms, improved enforcement, and increased investment to unlock the full potential of Nigeria’s solid minerals industry.
