Tinubu Earmarks N1 Trillion for Solid Minerals as Nigeria’s 2025 Budget Rises by N4.5 Trillion

President Bola Ahmed Tinubu has announced a record N4.5 trillion increase in Nigeria’s 2025 national budget, with N1 trillion dedicated to the solid minerals and mining sector the largest investment in the nation’s mining history.

Speaking at the 10th edition of the Nigeria Mining Week in Abuja, Tinubu said the allocation would support geo-scientific exploration, geological surveys, and the development of key infrastructure to unlock the country’s vast mineral resources.

Represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, the President said the initiative aligns with his Renewed Hope Agenda, which prioritises diversification, industrialisation, and inclusive growth.

> “This is the most significant single investment in Nigeria’s mining industry by any administration,” Tinubu stated. “It will enhance our economic resilience, create jobs, reduce dependence on oil, and open new revenue streams.”


He added that the investment would drive equitable regional development by transforming resource-rich but underdeveloped communities, boosting rural economies, and promoting mineral processing for export.

Tinubu revealed that recent reforms had increased sectoral revenues from N6 billion in 2023 to over N38 billion in 2024, attributing the surge to improved regulation and transparency.

He also announced the establishment of the Nigeria Solid Minerals Company, a special-purpose vehicle to promote local processing and industrial linkages.

> “Our goal is clear: to turn the wealth beneath our feet into prosperity in our hands,” he said.

Chairman of the Senate Committee on Solid Minerals, Senator Ekong Sampson, pledged legislative support for the President’s reforms, noting that over $1 billion in foreign direct investment had already flowed into mineral processing projects.

Minister of Solid Minerals Development, Dr. Dele Alake, said the sector’s contribution to Nigeria’s GDP has risen to 4.6%, describing the reforms as a model for other African nations.

> “Our policies are working,” Alake said. “With sustained collaboration, the solid minerals sector will soon become a major global revenue source and catalyst for inclusive growth.”

Also speaking, Minister of Steel Development, Prince Shuaibu Abubakar Audu, reiterated the government’s resolve to revive Nigeria’s steel industry, with plans to commission the Ajaokuta and Delta Steel plants both with a combined capacity of 2.3 million tonnes of liquid steel per annum.

He disclosed that the projects would require around 8 million tonnes of local raw materials annually and create more than 500,000 jobs, as the government targets 10 million tonnes of steel production by 2030.

> “The time to act is now,” Audu said. “A vibrant steel industry will drive demand for local minerals and ignite a chain reaction of growth across the economy.”


With this historic investment, Nigeria aims to reclaim its position as a major player in global mining and industrial development, reducing its reliance on oil while unlocking new frontiers of economic opportunity.