Nigeria’s Solid Minerals Exports Reached ₦354 Billion in 2025 – SMDF

Nigeria's solid minerals sector is showing significant growth, with exports reaching ₦354 billion in 2025, according to Hajiya Fatima Shinkafi, Executive Secretary of the Solid Minerals Development Fund (SMDF). This figure accounts for approximately 0.4% of Nigeria's total exports and about 3% of its non-oil exports. The sector's expansion is a key component of the Federal Government's strategy to increase its contribution to the Gross Domestic Product (GDP) to three percent by 2030.

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Nigeria’s solid minerals exports reached ₦354 billion in 2025, as the sector recorded significant growth under ongoing reforms.

Under ongoing reforms initiated since 2023, the sector has seen substantial financial gains for the federation, generating ₦16 billion in 2023, ₦38 billion in 2024, and over ₦70 billion in 2025. In 2025 alone, the sector recorded a real growth rate of 33.5%, significantly outpacing the country's overall real GDP growth of 3.9%. Despite Nigeria possessing over 44 commercially viable minerals across more than 500 locations, the sector's current contribution to the national GDP remains less than one percent.

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The reforms align with the Federal Government’s target of increasing the solid minerals sector’s contribution to three per cent of Gross Domestic Product (GDP) by 2030, under the Seven-Point Agenda of the Minister of Solid Minerals Development, Dr. Dele Alake.

These reforms have successfully attracted substantial investment commitments totaling $2.6 billion, including a major $1.3 billion alumina refinery project. Furthermore, the launch of the Early-Stage Mineral Exploration and Research Grant Endowment (EMERGE) in June 2026 marks Nigeria's first competitive funding program for geoscience research in universities. This initiative aims to support mineral exploration, critical minerals research, and R&D projects, while also providing technical assistance and investment readiness training.

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Nigeria possesses more than 44 commercially viable minerals across over 500 locations, including gold, iron ore, lithium, coal, bitumen, barite and gemstones.

University of Lagos Vice-Chancellor, Prof. Folasade Ogunsola, emphasized the institution's commitment to fostering collaboration between academia and industry to drive national development. Similarly, Prof. Olayinka Asekun, pioneer Dean of the Faculty of Physical and Earth Sciences, highlighted the lecture series' role in deepening engagement and creating research opportunities with practical applications. Shinkafi encouraged the university's Faculty of Physical and Earth Sciences to actively participate in the EMERGE program by submitting research proposals.

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The sector generated about ₦16 billion for the Federation in 2023, ₦38 billion in 2024 and more than ₦70 billion in 2025.