By Ayo Ayodele
Minister of Solid Minerals Development, Dr. Dele Alake, has said that the South West region is playing a leading role in Nigeria’s mining revolution under President Bola Tinubu’s Renewed Hope Agenda, contributing over ₦7.2 billion to the nation’s ₦30 billion mining revenue between January and September 2025.
Speaking at the South West Leaders Conference in Akure, Ondo State, on Wednesday, Dr. Alake said the reforms initiated by his ministry have stabilized and repositioned the mining sector for growth, increased government revenues, and attracted major local and foreign investments.
“Against the paltry ₦8.6 billion collected by the Federal Government from mining in 2022, revenue rose to ₦14.9 billion in 2023, ₦38 billion in 2024, and over ₦30 billion so far in 2025,” he said. “The South West alone contributed ₦7.2 billion, making it the highest regional contributor.”
The minister described President Tinubu as “a man of vision and a financial genius” whose leadership has brought renewed purpose to governance, particularly in solid minerals development. He said the ministry adopted a Seven-Point Agenda aimed at domestic consolidation and international competitiveness, anchored on integrity, inclusion, and compliance with the law.
Highlighting security improvements, Alake said that in partnership with the Ministry of Interior, the government created the Mining Marshals, a specialized unit within the Nigeria Security and Civil Defence Corps (NSCDC).
The unit, he said, has reclaimed over 90 mining sites from illegal occupants and prosecuted more than 300 violators of the Nigerian Minerals and Mining Act.
He added that the government’s ongoing Mines Satellite Monitoring Project, funded with an initial ₦2.5 billion, now tracks all mineral licences and coordinates nationwide to detect illegal mining and ensure proper revenue collection.
According to the minister, the South West holds 1,801 of Nigeria’s 9,592 mineral titles, including 630 exploration licences, 51 mining leases, 284 quarry leases, and 836 small-scale mining leases. Ogun State leads with 481 titles, followed by Oyo with 440, and Osun with 374.
He praised the Segilola Gold Project in Osun State as Nigeria’s most successful gold mining operation, with a 2024 turnover of $193 million and over 2,000 employees, 80% of whom are under 40.
Alake emphasized community engagement as key to sector stability. He said 99 Community Development Agreements (CDAs) have been signed across the South West—45 of them between September 2023 and October 2025—doubling the record of the previous 15 years.
He also revealed that the ministry has licensed 46 private mineral buying centres and registered 369 co-operatives with 5,734 members.
“Co-operatives are the non-kinetic component of our strategy to secure the sector and reduce illegal mining,” he explained.
The minister disclosed that the government revoked 3,794 dormant and defaulting licences, raising industry standards and investor confidence.
Revenues at the Mining Cadastral Office grew from ₦6 billion in 2023 to ₦12.5 billion in 2024 and ₦26.7 billion as of October 2025.
On international collaboration, Alake said Nigeria’s push for value addition—processing minerals locally rather than exporting raw materials—has attracted new investments worth over $1.7 billion, including Africa’s largest $400 million rare earth plant and multiple lithium processing facilities.
Citing data from the National Bureau of Statistics (NBS) and the Nigerian Extractive Industry Transparency Initiative (NEITI), Alake noted that the mining sector’s growth rose from 2.84% in 2023 to 4.85% in 2024, while its contribution to GDP increased from 5.56% to 5.64%.
He concluded by urging traditional and community leaders to support government reforms and help eradicate illegal mining.
“Our past is a story already told,” he said. “Our future shall be written in gold.”