The federal government has revealed that the mining sector recorded N26 billion revenue from licensing fees, which had been remitted to the federation account as of October 2025.

This represented an increased compared with the N6 billion recorded in 2023 and N12 billion in 2024.

It was disclosed that according to the World Mining Data 2025, as at 2023, Nigeria produced 108,414,478 metric tonnes of minerals, thus ranking as the 24th out of 166 countries in total production of minerals, and has ranked 20th out of 166 in monetary value, with total minerals produced amounting to $48,961 million.

Minister of Solid Minerals Development, Dr. Dele Alake, disclosed this during a breakthrough in the countrys mining sector yesterday, with the groundbreaking of a $400 million rare earth minerals processing plant in Uke, Nasarawa State

Delivering his speech titled, The Road to Self-Reliance in the Solid Minerals Sector, Alake said progress was being made as a result of changes in global technology driven by climate change, which has made electric vehicles and appliances the new normal.

He said under the leadership of President Bola Tinubu, the solid minerals sector has been turned into the newest pillar of growth of the Nigerian economy with enforced compliance with the mining laws, and has increased the security of the sector as well as enabled more investors.

While pledging the support of the federal government to the initiative, the minister added that the groundbreaking of the $400 million rare earth plant by the Hasetins Group was an eloquent testimony to the drive and willpower of the Nigerian which is the awakening of the national consciousness.

Remittances from licencing fees to the federation account have increased from N6 billion in 2023 to N12 billion in 2024, to N26 billion as of October 2025.

According to the World Mining Data 2025, as at 2023, Nigeria produced 108,414,478 metric tonnes of minerals, thus ranking as the 24th out of 166 countries in total production of minerals.

Our country also ranked 20th of 166 in monetary value, with total minerals produced amounting to $48,961 million, he added.

He further remarked that: Dangote Refinery has shown that we can restore our capacity to refine our crude oil. Segilola/THOR has shown that we can refine our own gold. Avatar and ASBA have shown that we can separate and process our lithium. Hasetins Group shall demonstrate that we can separate, process, and refine our rare earths.

In his speech, Managing Director of Hanetins Group, Mr. Prince Jidayi, said the processing plant has the capacity to create not less than 10,000 jobs, which will stimulate economic growth.

He noted that the plant will work alongside the government towards diversifying the economy and reducing overdependence on oil exports, and will attract more investors to the sector and position Nigeria as a major player in the global mining industry.

The development has been welcomed by industry experts and stakeholders, who see it as a significant step towards unlocking Nigerias economic potential.

He added that with its rich mineral resources and growing infrastructure, Nigeria was poised to become a major hub for mining and processing in Africa.

With a capacity of greater than 10,000 jobs and environmentally-friendly manner, the facility will not only boost local and national economies, but also create numerous opportunities in our communities.

Were deeply committed to fostering a workforce that reflects the diversity and talent of all these regions in which we operate.

And this project, this plant were setting up, will embrace sustainable practices, ensuring that we protect our environment while we innovate and we advance.

In his speech, the Governor of Nasarawa State, Engr. Abdullahi Sule stated that the rare earth minerals processing plant, which is set to transform Nigerias mining sector, aligns with Tinubus seven-point agenda, focusing on value addition and security. (THIS DAY)

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