Nigeria’s struggling solid minerals sector achieved a historic fiscal milestone in the 12 months of 2025, generating a total revenue of N68 billion during the period, representing a 79.2 per cent increase in revenue increase compared to the N38 billion recorded in 2024.
The data seen by THISDAY was unveiled in a report presented by officials of the Ministry of Solid Minerals Development (MSMD) to the Technical Sub-Committee of the Federation Account Allocation Committee (FAAC) during its meeting in January 2026.
Titled: “Report on Revenue Collected by the Ministry of Solid Mineral Development for the month of December 2025,” the document provided a granular look at the fiscal trajectory of the sector, seen as central to the nation’s economic diversification strategy.
However, although a significant jump compared with revenue in the past years, a THISDAY analysis of the revenue stream showed that the total for the year under consideration fell short of the over N70 billion projected by the ministry in a statement in December.
The Special Assistant on Media to the Minister of Solid Minerals Development, Dele Alake, Segun Tomori had said that the sector’s revenue was set to reach N70 billion in 2025, from the N38 billion in 2024.
