Tinubu Unveils ₦1 Trillion Plan to Power Nigeria’s Mining Revolution
By AUGUSTINA McSOLOMON-OGHAKPERUO
NIGERIA’S solid minerals industry is on the brink of a historic transformation as President Bola Ahmed Tinubu unveiled a ₦1 trillion investment plan to drive mining-led economic growth and diversification.
Speaking at the 10th Nigeria Mining Week 2025 in Abuja, President Tinubu — represented by the Secretary to the Government of the Federation (SGF), Senator George Akume — said the new funding, drawn from a ₦4.5 trillion budget increase, will support geological exploration, mining infrastructure, and local value addition in mineral-rich regions across the country.
“This is the single largest investment ever made in Nigeria’s mining industry,” Tinubu said. “We are determined to turn the wealth beneath our feet into prosperity in our hands.”
According to him, mining revenues have already increased from ₦6 billion in 2023 to ₦38 billion in 2024. This remarkable growth, moreover, reflects stronger oversight and greater transparency in the sector.
The Minister of Solid Minerals Development, Dele Alake, described the mining sector as Nigeria’s next big engine for job creation and industrial expansion.
“What we lacked was not policy but courageous implementation,” Alake said. “This administration is committed to making mining the economic pilot of the nation.”
In the same vein, Minister of Steel Development, Shuaibu Audu, reaffirmed that reviving Nigeria’s steel industry is central to President Tinubu’s industrialisation agenda, citing new public-private partnerships to revive dormant steel plants across the country.
Stakeholders, including the President of the Miners Association of Nigeria (MAN), Dele Ayanleke, welcomed the reforms and, moreover, urged the government to ensure inclusive and sustainable growth. Furthermore, they emphasized the need for effective implementation to guarantee that the benefits reach all segments of society.
The 10th edition of the Nigeria Mining Week — organised by VUKA Group — hosted over 3,500 delegates, marking a decade of “dedication, dialogue, and development” in the mining industry.
Analysts predict that Tinubu’s ₦1 trillion investment could attract up to ₦10 trillion in private capital within the next five years, potentially raising mining’s GDP contribution from below 1% to nearly 10% by 2030.
As Minister Alake declared:
“The solid minerals revolution has begun — and this time, business will not be as usual.”
