Nigeria’s mining sector has generated N26 billion in licensing revenueNigeria’s mining sector has generated N26 billion in licensing revenue so far in 2025, a significant increase from N12 billion in 2024, according to the Ministry of Solid Minerals Development.

The revenue reflects contributions from licensing fees remitted to the federation account as of October.

Minister of Solid Minerals, Dr.  Dele Alake, listed the figures while speaking during the groundbreaking of a $400 million rare earth minerals processing plant in Uke, Nasarawa State.

Stressing the role of climate-driven technology in expanding demand for electric vehicles and related products, he said, “Remittances from licensing fees to the federation account have increased from N6 billion in 2023 to N12 billion in 2024, to N26 billion as of October 2025. Our country also ranked 20th of 166 in monetary value, with total minerals produced amounting to $48,961 million.”

Prince Jidayi, Managing Director of Hasetins Group, said the new plant would generate at least 10,000 jobs and contribute to economic diversification, reducing Nigeria’s dependence on oil exports.

He said, “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.

“We’re 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 we’re setting up, will embrace sustainable practices, ensuring that we protect our environment while we innovate and we advance.”

Governor Abdullahi Sule added that the facility aligns with President Bola Tinubu’s seven-point agenda, focusing on value addition and sector security.

Dr. Alake also emphasised that domestic initiatives such as the Dangote Refinery, Segilola/THOR gold processing, and Avatar/ASBA lithium processing have demonstrated Nigeria’s growing capacity for mineral refinement, noting: “Hasetins Group shall demonstrate that we can separate, process, and refine our rare earths.”

Meanwhile, the minister has said Nigeria’s gold and gemstonesNigeria’s gold and gemstones are increasingly attracting international buyers.

Speaking at a press briefing hosted by Women in Mining, Nigeria, in collaboration with the Ministry of Solid Minerals Development, on TuesdayAlake noted the upcoming 4th African Gems and Jewellery Exhibition & Conference and the Gold & Gemstone Conference and Exhibition (AGJEC/GGCE 2025), scheduled to take place in Lagos from 24 to 28 November.

Represented by Fatima Shinkafi, Executive Secretary of the Solid Minerals Development Fund (SMDF), Alake stressed the potential of the gemstone sector to draw investors, generate employment, and increase its contribution to Nigeria’s Gross Domestic Product.

He said: “It is really my pleasure to be associated with Women in Mining and to actively support these annual events.

They demonstrate the viability of the gemstone sector in Southern Nigeria. Nigeria is one of the few nations with an abundant supply of gemstones, and this is something we need to exploit judiciously, not just to generate revenue, but also to brand Nigeria abroad.”

Alake observed that Nigerian gemstones and beads are predominantly purchased in China, Thailand, and other markets. He commended Women in Mining for promoting the country’s gemstones internationally and expressed support for efforts to position Nigeria as a hub for gemstones not only in Africa but globally. “We have the capacity, the human resources, and the material resources. All we need is to harness them efficiently for the benefit of everybody,” he added.

Engr Janet Adeyemi, President of Women in Mining in Nigeria, underscored the role of women in the sector, describing them as emerging leaders in the gemstone industry.

She noted that Nigeria currently hosts Africa’s leading gemstone industry and encouraged women to participate actively, highlighting the financial opportunities linked to a sector closely tied to beauty and aesthetics.

The AGJEC/GGCE 2025 conference will focus on “Accelerating Collaboration for a Sustainable Gold and Gemstone Development in Africa,” reflecting Nigeria’s broader objectives of economic diversification and job creation.