Nigerian Mineral Sector Revenue Drops by N1.3bn in November Due to Insecurity

The Nigerian mineral sector revenue decreased by N1.3bn in November, attributed to reduced mining activities amid heightened insecurity across the country. The Federal Ministry of Solid Minerals Development fell short of its monthly target of N3bn, generating a total of N63.92bn from January to November 2025.

The Ministry plans to surpass N16bn in revenue by 2023 and N38bn by 2024, focusing on attracting credible investors and implementing reforms to boost investor confidence. Special Assistant Segun Tomori highlighted a seven-point agenda to revitalize the sector, including revoking licenses of non-performing operators.

The Ministry aims to establish a lithium processing factory and a rare earth metal processing plant to enhance revenue generation.