Chairman of the House Committee on Solid Minerals Development, Honourable Jonathan Gaza Gbefwi, said on Friday that Nigeria’s solid minerals sector has experienced a significant transformation in less than two years, with revenue increasing from $6 billion to $38 billion and attracting over $800 billion in foreign direct investment (FDI).
The lawmaker reaffirmed the continued support of the National Assembly for initiatives aimed at unlocking Nigeria’s mineral potential and fostering inclusive growth through job creation, value addition, and institutional reform.
Gbefwi announced this in Abuja during the opening of a Ministerial Retreat titled “Enhancing Performance, Strengthening Accountability, and Fostering Innovation in the Solid Minerals Sector.” The event gathered key stakeholders in Nigeria’s solid minerals sector, including members of the National Assembly, Directors-General of vital agencies, senior officials from the ministry, and development partners.
Gbefwi commended the Ministry of Solid Minerals Development under Dr. Oladele Alake for its proactive reforms, describing them as critical in repositioning the sector as a cornerstone of Nigeria’s economic diversification strategy.
Gbefwi said: “In less than two years, we moved from $6 billion to $38 billion in revenue, and attracted over $800 billion in foreign direct investment.
“The Nigerian Solid Minerals Development Company is a masterstroke. This is our chance to replicate Norway’s oil success story, but with minerals. We must build resilient institutions that serve our communities for generations.”
In his keynote remarks, the Minister of Solid Minerals Development, Dr. Oladele Henry Alake, urged all departments, agencies, and directorates under the ministry to enhance collaboration, break down bureaucratic silos, and align their operations with the Presidential Performance Bond and the Central Delivery Coordination Unit (CDCU) framework.
He praised the ministry’s recent achievements, especially being named “The Best Ministry in Service Excellence” during the 2025 Civil Service Week.
He also celebrated the national honours conferred on Mr. Ifeanyi Onwu (EPIC Award) and Mrs. Vivian Obiadika (Presidential Civil Service Merit Award).
“This Retreat provides us the forum to articulate a new vision; one where our sector becomes globally competitive, sustainably managed, and investor-friendly. We must develop and implement policy frameworks that support exploration, beneficiation, and value addition within our country.
“We must work together to derisk mining investments, formalise the artisanal mining sector, and ensure that communities hosting mineral resources benefit meaningfully from our interventions.
“Our ministry has the mandate to promote good governance, unlock private sector participation, and catalyse inclusive growth across the solid minerals value chain. Let us, therefore, embrace the opportunities before us with clear eyes and a resolute spirit.
“Colleagues, ladies and gentlemen, I wish to emphasise that improving life opportunities for Nigerians through the solid minerals sector goes beyond increasing revenue. It is about strengthening institutions, building capacity, prioritising safety, protecting the environment, empowering women and youth, and ensuring equitable participation in the mining economy.”
Also speaking, Director-General of the Nigerian Mining Cadastre Office (NMCO), Engr. Obadiah Simon Nkom, described the retreat as a “moment of rebirth” for the entire sector.
Nkom said, “By the time we leave here, we must be recharged and ready to deliver a sector that attracts investors and transforms communities.”
Speaking during the retreat, Chairman of the Senate Committee on Solid Minerals Development, Senator Ekong Sampson, said the retreat’s theme was timely and aligned with the urgent need for reform, sustainability, and performance in the extractive sector.
He said, “Nigeria’s mining and natural resources sector presents a vast canvas of opportunities. From gold to lithium, iron ore to petroleum, and beyond, our nation is richly endowed. These resources hold the key to our economic diversification, inclusive growth, and long-term development.
“It is, therefore, imperative that we continually renew our commitment to policies, strategies, and distribution frameworks aimed at maximising the advantages of our natural environment. Through improved industry performance, innovation, and bold ideas, we can unlock rural wealth, transform lives, create employment, and reduce insecurity.
“The Senate has made deliberate efforts to promote transparency, good governance, and reliability, all of which are essential ingredients for unlocking the immense potential of the extractive sector.”
