Nigeria generated ₦101.11 billion from the solid minerals sector between January and September 2026, representing a 95.2 per cent increase compared with the ₦51.79 billion recorded during the same period in 2025.
The growth was largely driven by increased mineral royalty payments, according to figures from the Central Bank of Nigeria’s solid minerals revenue collection report.
The latest figures represent an additional ₦49.33 billion in revenue compared with the corresponding nine-month period last year, highlighting the sector’s growing contribution to government earnings.
An analysis of the collections showed that mineral royalties accounted for ₦66.12 billion, representing 65.4 per cent of total revenue. Fees collected by the Federal Ministry of Solid Minerals Development contributed ₦33.54 billion, while miscellaneous receipts stood at ₦1.45 billion.
July recorded the highest monthly collection during the period, with revenue reaching ₦29.13 billion. Mineral royalties contributed ₦25.78 billion, while ministry fees accounted for ₦2.41 billion and miscellaneous receipts added ₦938.29 million.
Revenue fell sharply to ₦8.47 billion in August before rising slightly to ₦8.78 billion in September, demonstrating significant fluctuations in monthly collections.
June also recorded a notable increase, generating ₦16.31 billion compared with ₦4.75 billion in June 2025, representing a year-on-year rise of 243.7 per cent.
The figures suggest that royalties from mineral extraction and sales remain the main driver of revenue, while collections from fees have varied considerably from month to month.
Minister of Solid Minerals Development, Dele Alake, has attributed improvements in the sector to government reforms, stronger enforcement, licensing changes and efforts to formalise mining operations.
Nigeria generated ₦68.1 billion in total solid minerals revenue in 2025, according to figures previously presented by the ministry.
The Federal Government has been seeking to expand mining as part of its broader economic diversification strategy and reduce dependence on crude oil revenue.
However, the latest figures also highlight the need for more consistent revenue collection, effective regulation and stronger oversight of mining activities to ensure the sector delivers sustainable economic benefits.
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