Nigeria is turning the spotlight on its mining sector as part of a broader effort to diversify its economy beyond oil. Between January and August 2025, the nation’s non-oil revenue surged 40.5%, reaching $13.8 billion, highlighting the potential of non-oil sectors, especially solid minerals. Despite vast deposits of gold, limestone, coal, and bitumen, structural bottlenecks, poor infrastructure, and illegal mining have hindered growth. The government is addressing these challenges by cracking down on illicit activity, improving security, revoking dormant licenses, and creating a state-owned solid minerals corporation with private-sector participation. The government is also streamlining licensing processes and launching a digital portal to provide investors with crucial geological data. The vision is to build sustainable value chains that create jobs and boost GDP, positioning mining as a future rival to oil.
African Business
