Michael Eboh

Dublin, Ireland — Revenue generated from solid minerals increased by 152.43 percent within a year, with the nation earning N68.096 billion from the sector in 2025, up from N26.976 billion in 2024, as per the most recent data published by the Ministry of Solid Minerals Development (MSMD).

The MSMD, during its submission to the Federation Account Allocation Committee (FAAC), noted that the nation’s revenue from the solid minerals sector declined by 20.88 per cent to N4.175 billion, as opposed to N5.277 billion documented in November 2025.

Furthermore, the regulatory body overseeing the solid minerals sector mentioned that the income generated from the industry in December 2025 was 18.74 per cent less than the N5.138 billion revenue observed in the same month of 2024.

A detailed analysis of its 2025 revenue showed that the nation generated N4.176 billion, N3.782 billion, N2.146 billion, N7.884 billion, N9.656 billion, and N4.747 billion in January, February, March, April, May, and June 2025, respectively.

Furthermore, it mentioned that the nation generated N5.841 billion, N6.231 billion, N7.324 billion, N6.857 billion, N5.277 billion, and N4.175 billion in July, August, September, October, November 2025, and December 2025 respectively.

On the other hand, in January, February, March, April, May, and June 2024, income from the solid minerals industry was N945.436 million, N746.163 million, N1.723 billion, N1.043 billion, N1.755 billion, and N2.518 billion, respectively, whereas the nation generated N1.697 billion, N2.108 billion, N3.493 billion, N3.402 billion, N2.407 billion, and N5.135 billion from this sector in July, August, September, October, November, and December 2024, respectively.

The MSMD stated that its income primarily comes from royalties and fees, mentioning that its revenue is divided into royalties from minerals that are used and sold, as well as fees largely from annual service charges, registration, and the granting of mining licenses.

Providing an analysis of its December 2025 income, the official body overseeing the solid minerals industry revealed that out of the N4.178 billion collected, N1.584 billion came from royalties, and N2.591 billion was generated from fee collections.

In contrast, in November 2025, out of the N5.277 billion income generated by the solid minerals industry, N3.435 billion came from royalties, and N1.842 billion from charges.

Clarifying its performance in December 2025, the ministry explained that the drop in revenue during the month in question, when compared to November 2025, was caused by lower collections, which resulted from reduced mining operations due to instability and the conclusion of the year-end holidays.

Nevertheless, it was noted that the revenue of N4.175 billion generated from the solid minerals sector in December 2025 exceeded its monthly goal of N3.074 billion by 35.82 per cent.

It stated: “The Ministry noted a positive difference of N1.101 billion when the monthly revenue is contrasted with the monthly goal. Nevertheless, there is also a negative difference of N1.102 billion when the current month’s revenue is compared to the previous month’s.”