Nigeria's Solid Minerals Sector Achieves 79% Revenue Growth, Hits N68.1bn in 2025

Nigeria's Ministry of Solid Minerals Development announced a significant achievement in the country's economy with a 79.2% revenue growth in the solid minerals sector, reaching N68.1 billion in 2025. The revenue increase, compared to N38 billion in 2024, showcased a positive trajectory in the sector's fiscal performance.

Despite falling slightly short of the projected N70 billion, the sector's revenue demonstrated a strong upward trend throughout the year. The Ministry credited this success to improved stewardship and strategic initiatives.

However, challenges such as insecurity in mining regions and the traditional slowdown in revenue collection during the year-end holiday period impacted the sector's revenue performance. The Ministry highlighted that despite some monthly decreases, the sector consistently outperformed its monthly targets, showcasing a positive budget variance.

The revenue growth in the solid minerals sector reflects Nigeria's efforts to diversify its economy and enhance revenue generation beyond oil.