President Bola Ahmed Tinubu has announced a historic ₦1 trillion investment in Nigeria’s solid minerals sector, marking the largest single government-led initiative in the nation’s history. The allocation forms part of a broader ₦4.5 trillion boost in the 2025 national budget, highlighting the administration’s commitment to economic diversification and sustainable development.

The investment will fund comprehensive geo-scientific exploration, detailed geological surveys, and the development of critical infrastructure to unlock Nigeria’s mineral-rich regions. President Tinubu emphasized that these measures aim to reduce dependence on oil, stimulate industrialization, and increase foreign exchange earnings.

As part of a major policy shift, the administration has mandated that no mining license will be issued without a detailed plan for domestic beneficiation. This approach is expected to encourage local processing of minerals, create value within the country, and attract foreign investment. Already, over $800 million in foreign investments has been secured, with major lithium processing plants under development in Kaduna, Abuja, and Nasarawa.

The impact of these reforms is clear, with the solid minerals sector’s revenue increasing sixfold, from ₦6 billion in 2023 to over ₦38 billion in 2024. The surge reflects improved policy implementation, enhanced oversight, and a strategic focus on value addition and environmental responsibility. President Tinubu reiterated that these initiatives are central to his Renewed Hope Agenda, aiming to position Nigeria’s mining sector as a cornerstone of a diversified economy.