The Nigeria Extractive Industries Transparency Initiative (NEITI) has urged policymakers to establish a harmonized, transparent, and predictable regulatory framework for the solid minerals sector to sustain growth and attract long-term investments. According to NEITI, significant improvements have been made in licensing processes, but addressing policy overlaps and multiple taxation remains a priority to encourage credible investors and stimulate sectoral growth.
NEITI’s Executive Secretary, Dr. Orji Ogbonnaya Orji, made this appeal at the 2025 Nigeria Mining Week in Abuja, where he emphasized the need to reform the sector to reposition it as a cornerstone for economic diversification and energy transition strategy. Citing the 2023 Solid Minerals Industry Report, Dr. Orji noted that the sector’s contribution to GDP remains below 1%, despite a modest revenue growth from ₦339.57 billion in 2022 to ₦401.87 billion in 2023.
The report highlights that artisanal and small-scale mining accounted for over 80% of total production volumes but contributed less than 30% of royalties paid, underscoring deep governance and structural challenges. To address this, Dr. Orji recommended streamlining fiscal and royalty regimes, promoting value addition and local processing, and strengthening environmental, gender, and community development frameworks.
He also emphasized the importance of developing critical minerals such as lithium, cobalt, and manganese to position Nigeria advantageously in the global energy transition landscape. Furthermore, Dr. Orji urged stakeholders to support government efforts to establish a credible National Mineral Reserve Database accessible to investors and the public.
President Bola Tinubu, represented by the Secretary to the Government of the Federation, Senator George Akume, described the Nigeria Mining Week as a crucial forum for generating ideas to guide the nation’s journey toward economic renewal. The President emphasized Nigeria’s continental leadership role in resource development, noting that Africa holds about 30% of the world’s known mineral reserves and significant deposits of critical minerals driving the 21st-century global economy.
The Nigerian government has been encouraged to harness this wealth responsibly, ensuring that more value remains within the economy, creating jobs and industrial clusters. As the solid minerals sector continues to undergo reforms, NEITI’s call for a harmonized regulatory framework and an end to multiple taxation is seen as a crucial step towards unlocking the sector’s full potential and attracting long-term investments.