By Muhammad Mamman
President Bola Tinubu has declared that Nigeria has no excuse to remain poor, given its vast mineral wealth and human capital. Speaking at the 2025 Nigeria Mining Week in Abuja on Wednesday, Tinubu said the nation must urgently harness its resources to unlock economic prosperity.
The President, represented by the Secretary to the Government of the Federation, Senator George Akume, stated:
“Nigeria has no reason to be poor, given our abundant resources and talented people. Our challenge is to harness these potentials to bring prosperity to all. Let us turn our minerals into miracles of development. ‘Minerals to Miracles’ must be our rallying cry.”
He described Nigeria Mining Week as a growing global platform that fosters collaboration between investors, companies, and policymakers to drive the country’s economic renewal through the solid minerals sector.
Tinubu assured stakeholders that the Federal Government is committed to making mining zones across Nigeria safe for investors, workers, and host communities. He also underscored Nigeria’s role as a continental leader, noting that Africa holds 30% of the world’s known mineral reserves.
“We must harness this wealth responsibly, ensuring more value stays within our economies, creating jobs and building industrial clusters,” he said.
Meanwhile, Chris Ochonu, Deputy Director of Communications and Stakeholder Management at the Nigeria Extractive Industries Transparency Initiative (NEITI), called for a unified and transparent regulatory framework for the solid minerals sector to ensure sustained growth and attract long-term investment.
NEITI Executive Secretary, Dr Orji Ogbonnaya Orji, said the sector was undergoing significant reforms aimed at transforming it into a key pillar of economic diversification and energy transition.
Referencing NEITI’s 2023 Solid Minerals Industry Report, Dr Orji revealed that the sector contributed less than 1% to Nigeria’s GDP, despite a modest revenue increase from ₦339.57 billion in 2022 to ₦401.87 billion in 2023.
He added that over 80% of production volume came from artisanal and small-scale mining, yet these accounted for less than 30% of royalties—highlighting deep structural and governance challenges in the sector.
Also speaking at the event, Minister of Solid Minerals Development, Oladele Alake, presented a status report on current reforms and reiterated the administration’s resolve to make mining a catalyst for economic growth.
On the sidelines, Dr Orji addressed a special forum hosted by the Kaduna Mining Development Company, stressing that transparency and accountability are essential to boosting investor confidence and delivering long-term benefits at both national and sub-national levels.
