Tinubu Govt Rakes In ₦7 Billion From Mining License Fees

The Minister of Solid Minerals Development, Dr. Dele Alake, announced that Nigeria is demonstrating promising signs of economic advancement, with the Federal Government collecting nearly ₦7 billion in mining license fees during the first quarter of the year.

Alake provided this information while addressing the Organisation for Economic Cooperation and Development (OECD) Forum in Paris, France.

According to a statement shared on his official 𝕏 platform, the minister emphasised the necessity for bold and responsible actions in the global energy transition, asserting that Africa should take the lead in this initiative.

Furthermore, Alake mentioned that the country has formalised over 1,200 artisanal cooperatives and granted numerous licenses, all while advocating for sustainability, value addition, and enhancing investor confidence.

He remarked that Nigeria is already showcasing its potential, having generated nearly ₦7 billion in mining license fees, formalised more than 1,200 artisanal cooperatives, and approved hundreds of licenses in Q1 2025, all while promoting sustainability, value addition, and investor confidence.

“As Chair of the Africa Mineral Strategy Group, I’m proud to work with leaders across the continent to unlock inclusive, long-term growth from our rich mineral resources. It’s time for Africa to move from exporting raw materials to owning the future of clean energy,” the statement said.

Alake emphasised the strategic significance of Africa in the global energy transition, pointing out the continent’s increasing contribution to the global supply of essential minerals like cobalt, lithium, copper, and tantalum.

The minister urged a fundamental change in Africa’s role, advocating for a transition from being simple exporters of raw materials to becoming leaders in value-added processing and high-value mineral supply chains.

“As Chair of the Africa Mineral Strategy Group (AMSG), I work closely with my counterparts across the continent to advance a shared agenda of value addition, resource mobilisation, and responsible development.

“Our focus is clear- unlocking inclusive growth from Africa’s vast mineral wealth,” Alake explained.

Reiterating the need for cooperation, Alake stressed that building resilient, transparent, and ethical mineral supply chains requires multi-stakeholder collaboration between governments, the private sector, civil society, and local communities.

“Nigeria is ready to work with global partners to promote responsible sourcing, encourage beneficiation, and deliver long-term economic value,” he stressed.

With the emergence of the global energy transition, Alake argued that there has never been a more critical moment for decisive leadership.

“The future of electricity, transportation, telecommunications, and indeed global prosperity depends on the work we do here. Let us embrace this opportunity, not just to discuss change, but to drive it,” he said.

Alake underscored the importance of global partnerships in building a resilient and sustainable mining sector, highlighting the critical role of mining in the global shift toward greener energy.