Nigeria’s mining sector has generated N26 billion in licensing revenue so far in 2025 — more than double the N12 billion recorded in 2024 — according to the Ministry of Solid Minerals Development. The revenue reflects licensing fees remitted to the federation account as of October.
Gatekeepers News reports that Minister of Solid Minerals, Dr. Dele Alake, disclosed the figures during the groundbreaking ceremony of a $400 million rare earth minerals processing plant in Uke, Nasarawa State. Highlighting the surge in global demand for climate-driven technologies, particularly electric vehicles, 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.”
Managing Director of Hasetins Group, Prince Jidayi, said the new plant would generate no fewer than 10,000 jobs and support Nigeria’s push for economic diversification away from oil dependence.
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 the regions in which we operate.
“And this project… will embrace sustainable practices, ensuring that we protect our environment while we innovate and we advance.”
Governor Abdullahi Sule said the project aligns with President Bola Tinubu’s seven-point agenda, especially on value addition and security within the minerals sector.
Dr. Alake further noted that domestic initiatives — including the Dangote Refinery, Segilola/THOR gold processing plant, and Avatar/ASBA lithium operations — show Nigeria’s expanding capacity for mineral refinement.
“Hasetins Group shall demonstrate that we can separate, process, and refine our rare earths,” he said.
Nigeria’s Gemstones Drawing Global Attention
Speaking at a press briefing organised by Women in Mining, Nigeria, in collaboration with the Ministry of Solid Minerals Development, Alake said Nigeria’s gold and gemstones are increasingly attracting international buyers. He referenced the upcoming 4th African Gems and Jewellery Exhibition & Conference and Gold & Gemstone Conference and Exhibition (AGJEC/GGCE 2025), scheduled for 24–28 November in Lagos.
Represented by Fatima Shinkafi, Executive Secretary of the Solid Minerals Development Fund (SMDF), Alake highlighted the potential of the gemstone industry to draw investment, create jobs, and boost GDP.
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… to brand Nigeria abroad.”
He noted that most Nigerian gemstones and beads are currently purchased in China, Thailand, and other international markets, commending Women in Mining for promoting the industry 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 said.
President of Women in Mining in Nigeria, Engr Janet Adeyemi, emphasised the increasing role of women in the sector, describing them as emerging leaders within the gemstone value chain. She said Nigeria now hosts Africa’s leading gemstone industry, urging more women to tap into opportunities in a field 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,” in line with Nigeria’s broader agenda of economic diversification and job creation.
