By: Goodluck E. Adubazi, Abuja.
In his address at the Nigeria Mining Week, Dr. Dele Alake, Minister of Solid Minerals Development, highlighted that the sector recorded ₦38 billion in revenue in 2024, a dramatic rise from ₦6 billion in 2023 — representing a six-fold increase.
He attributed the growth to policy consistency, bold reforms, and institutional transparency, noting that the sector now plays a crucial role in Nigeria’s non-oil revenue diversification agenda.
“We have repositioned the solid minerals sector as a pillar of Nigeria’s sustainable economic growth,” Dr. Alake affirmed.
Also Speaking at the 10th Edition of the Nigeria Mining Week, held on October 14, 2025, in Abuja, the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, declared a renewed partnership between the Ministry of Steel Development and the Ministry of Solid Minerals Development to fast-track Nigeria’s industrial transformation.
Delivering his Ministerial Address under the theme “Nigeria Mining: From Progress to Global Relevance,” Prince Audu praised his counterpart, Dr. Dele Alake, for spearheading reforms that have enhanced transparency, boosted sectoral oversight, and strengthened Nigeria’s GDP growth trajectory.
The minister reaffirmed his ministry’s commitment to achieving 10 million tonnes of liquid steel production by 2030 and creating over 500,000 direct and indirect jobs. He emphasized that reaching this target would require 40 million tonnes of locally sourced raw materials annually, including iron ore, limestone, dolomite, and coal.
“The time to act is now,” Prince Audu declared, stressing that synergy among stakeholders is vital to meeting President Bola Ahmed Tinubu’s vision of growing Nigeria’s GDP to $1 trillion by 2030.
Declaring the event open, President Bola Ahmed Tinubu, represented by the Secretary to the Government of the Federation (SGF), Sen. George Akume, reaffirmed the administration’s commitment to repositioning the solid minerals and steel sectors as engines of economic diversification.
He announced that the Federal Government has allocated an additional ₦1 trillion in the 2025 National Budget to strengthen geo-scientific exploration, geological surveys, and the development of essential infrastructure to unlock Nigeria’s mineral wealth.
“We are building a foundation that will make mining and steel development central to our nation’s industrial future,” President Tinubu stated.
Steel Forum Set to Chart New Path for Nigeria’s Industrial Future
As part of the weeklong event, the Nigeria Mining Week host a Steel Forum on Wednesday, October 15, 2025, at the Abuja Continental Hotel.
The forum gather key industry players, investors, and policymakers to discuss investment opportunities, policy harmonisation, and strategic frameworks to reposition Nigeria’s steel industry for long-term growth and global competitiveness.