The Federal Government announced, on Monday, that it generated N6.96 billion in mining fees and registered 118 new private mineral buying centres in the first quarter of 2025.

Speaking at the second Annual Mining Conference organised by BusinessDay newspaper in Abuja, the Minister of Solid Minerals Development, Dr. Dele Alake, said the revenue reflects the Ministry’s sustained efforts to raise awareness and attract investors to the sector.

In a statement by his Special Assistant on Media, Segun Tomori, Alake explained that the mining fees were collected by the Mining Cadastral Office (MCO), which processed 955 applications for mining titles.

These included 651 applications for exploration licenses, 270 for small-scale mining, 49 for quarrying, and 24 for reconnaissance permits.

The Minister approved 867 applications, including 512 exploration licenses, 295 small-scale mining leases, 60 Quarry leases, and five mining leases.
The revenues are from annual service fees, application processing fees, and renewal of titles. MCO has also stepped up conflict resolution to reduce petitions arising from overlap and litigation over ownership.
Alake disclosed that the Ministry has recorded a lot of progress in plans to set up the Nigerian Solid Minerals Corporation.
Speaking on the theme, “Building A Resilient Mining Sector,” Alake said the corporation will be globally competitive and rooted in Nigerian expertise and capital.