The Federal Authorities has disclosed a big enhance within the mining sector’s contribution to Nigeria’s Gross Home Product (GDP), which has grown from 0.5 per cent over the previous decade to 4.61 per cent presently.
The Minister of Strong Minerals Improvement, Dr Oladele Alake, made this revelation throughout a pre-event press briefing forward of the tenth version of the Nigeria Mining Week, scheduled to happen from October 13 to fifteen, 2025, in Abuja.
Based on Dr Alake, the sector’s progress has been pushed by “revolutionary insurance policies” launched by the present administration, which have quadrupled earnings from the sector, with expectations that its contribution to GDP will “rise exponentially within the coming years.”
Dr Alake additional acknowledged that Nigeria’s reform agenda was resonating past its borders, with a number of African nations adopting its value-addition coverage.
This growth led to the formation of the Africa Minerals Technique Group, of which Alake was chosen because the pioneer chairman. The group’s mission is to make sure Africa will get the very best offers from its mineral deposits via native beneficiation somewhat than exporting minerals of their uncooked kinds.
The Minister additionally famous that the Group Improvement Settlement developed by the ministry was receiving reward past Nigeria.
Highlighting reform challenges, the Minister disclosed that he had personally acquired threats from people whose egocentric pursuits had been undercut by the brand new regulatory framework. Regardless of this, he affirmed that neither he nor his group can be deterred of their dedication to make sure that mining is regulated to contribute its justifiable share to Nigeria’s financial diversification agenda.
He additionally disclosed plans to additional plug income leakages within the sector by introducing pre-shipment inspection of strong mineral export cargo.
Delivering remarks from a ready deal with, the Minister initially famous that the mining sector’s contribution had risen from below 0.5 per cent to roughly 1.8 per cent, with a goal of three per cent within the medium time period. Nevertheless, throughout a question-and-answer session with journalists, he clarified that the Nationwide Bureau of Statistics (NBS) had not too long ago up to date the determine to 4.61 per cent at an occasion he attended.
“In actual fact, yesterday, after I was making a presentation to the Nationwide Financial Council and acknowledged the earlier figures, the NBS Director-Basic was additionally there, and he disputed my figures. He mentioned that in Quarter 2 of this yr — or final yr — the GDP contribution of mining had elevated phenomenally. He talked about a determine of 4.61 per cent.”
Dr Alake described the upcoming Nigeria Mining Week as a key platform for stakeholders to judge progress, establish challenges, and align on coverage priorities.
“It’s not only a technical convening however a chance to bolster our nationwide goals round worth addition, environmental accountability, and group growth,” he added.
He defined that below the Renewed Hope Agenda, the Ministry had applied a number of structural reforms to strengthen governance and improve transparency. These embrace: Strengthening the Strong Minerals Improvement Fund (SMDF) to help mission financing and entice personal funding; Enlargement of geological mapping and digitisation of mineral information to enhance entry for potential traders; Institution of Mining Marshals, in collaboration with safety businesses, to sort out unlawful mining and enhance security in mining areas; and Operational reforms on the Mining Cadastral Workplace, making certain a extra clear and accountable licensing system.
Dr Alake reiterated the Ministry’s shift from uncooked mineral exports to a give attention to beneficiation and worth addition, aligning the sector with broader nationwide objectives akin to industrialisation, employment creation, and sustainable growth.
The Minister famous that this yr’s occasion will embrace strategic discussions on important minerals, infrastructure, and funding frameworks, significantly in gentle of the worldwide vitality transition and rising demand for lithium and uncommon earth parts.
Based on him, 100 exhibitors and over 1,000 contributors from Nigeria, Africa, Asia, and Europe will attend.
President of the Miners Affiliation of Nigeria, Mr Dele Ayanleke, hailed the Mining Week as a landmark within the nation’s mining journey.
“This occasion marks a decade of dialogue, innovation, and collaboration throughout the sector,” he mentioned.
He recommended the Minister for his management and acknowledged the important function of stakeholders, sponsors, and companions in selling accountable mining, formalising artisanal practices, and attracting funding.
Nevertheless, Mr Ayanleke additionally acknowledged ongoing challenges, together with unlawful mining, insecurity, and infrastructure gaps, which he described as “alternatives for deeper reform and collaboration.”
In his presentation, Habeeb Jaiyeola, a companion at PricewaterhouseCoopers (PwC), underlined the Mining Week’s function because the premier discussion board for shaping Nigeria’s mining discourse:
“It continues to be the main platform for consensus-building and crafting options that place mining as an engine of shared prosperity.”
In the meantime, Samukelo Madlabane of the VUKA Group, one of many occasion’s organisers, revealed that this yr’s version will highlight areas akin to exploration finance, the emergence of indigenous junior miners, and the creation of a globally aggressive funding local weather.
He famous that the occasion, which had simply 200 contributors a decade in the past, has expanded considerably, with 3,500 attendees anticipated this yr.
The tenth Nigeria Mining Week may also function new segments, together with Deal Rooms, Technical Workshops, and Strategic Boards — all designed to deepen funding and information alternate throughout the sector.
