•Gold production hits 313,000 ounces in Q2 2025
Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mohammed Shehu, has expressed concern over what he described as gross underperformance and negligence in the remittance of mining revenues to the Federation Account, despite the massive scale of activities ongoing in Nigeria’s solid minerals sector.
Speaking at a one-day sensitisation workshop on the implementation of new Solid Mineral Data Rendition Templates for effective revenue monitoring, held in Asaba, Delta State, Shehu lamented that the country’s mining industry remained a largely untapped gold mine due to poor oversight and weak institutional coordination.
The event, organised by the Ministry of Solid Minerals Development (MSMD) in collaboration with the Mining Cadastre Office (MCO) and other critical stakeholders from the South-South region.
aimed at introducing a new framework for tracking production, payments, and licensing in the mining value chain.
Represented by the Federal Commissioner for Delta State, Aruviere Egharhevwa, the RMAFC chairman said the Commission was determined to ensure that “every kobo due to the Federation Account from the mining sector is promptly remitted into the distributable pool.”
Gold production hits 313,000 ounces in Q2 2025
MEANWHILE, Segilola Resources Operating Limited (SROL), Nigeria’s flagship gold exploration and mining company, has produced over 313,206 ounces of gold since the commencement of full commercial production up to the second quarter of 2025.
The milestone, achieved by Nigeria’s first commercial gold producer and subsidiary of Thor Explorations Ltd, signals growing confidence in the nation’s solid minerals sector and underscores its potential to become a leading gold hub in Africa.
Industry observers say the achievement cements Nigeria’s position as a credible gold producer while reflecting Segilola’s strong commitment to local empowerment, sustainability and responsible mining practices.
With a 98 per cent Nigerian workforce, including 27 per cent drawn directly from its host communities, Segilola has been widely praised for its inclusive model that prioritizes local participation and community development.
