The Federal Government has collected N6.96 billion in mining fees and registered 118 new private mineral buying centres in the first quarter of this year. Minister of Solid Minerals Development, Dr. Dele Alake, disclosed this at the second Annual Mining Conference in Abuja.

Revenue Generation
The revenue was generated from 955 applications for title grants, including exploration, small-scale mining, quarrying, and reconnaissance permits. The Minister approved 867 applications, including 512 exploration licenses and 295 small-scale mining leases.

Plans for Nigerian Solid Minerals Corporation
Dr. Alake revealed plans to set up the Nigerian Solid Minerals Corporation, a special-purpose vehicle that will catapult Nigeria into the league of global mining players. The corporation will be globally competitive and rooted in Nigerian expertise and capital.

International Partnerships
The Minister highlighted international partnerships, including the French government’s commitment to equip the Nigeria Geological Survey Agency’s laboratory and train young geologists. The Government of Western Australia will also train Nigerian mining professionals.

Value Addition Policy
Dr. Alake cited the impact of his value addition policy, which has enhanced local beneficiation and positioned Nigeria as a leader in African mining countries. Nigeria has emerged as the pioneer chairperson of the African Minerals Strategy Group, advocating for value addition and opposing the exportation of raw minerals.