The Nigeria Extractive Industries Transparency Initiative (NEITI) has called on policymakers to create a harmonized, transparent, and predictable regulatory framework for the solid minerals sector. This framework is essential for sustaining growth and attracting long‑term investment. NEITI acknowledges progress in licensing processes but stresses that policy overlaps and multiple taxation must be addressed to encourage credible investors and stimulate sectoral expansion.
Dr. Orji Ogbonnaya Orji, NEITI’s Executive Secretary, made this appeal at the 2025 Nigeria Mining Week in Abuja. He emphasized the need to reform the sector so it can become a cornerstone of economic diversification and the country’s energy‑transition strategy. Citing the 2023 Solid Minerals Industry Report, Dr. Orji noted that the sector’s contribution to GDP remains below 1%, despite modest revenue growth from ₦339.57 billion in 2022 to ₦401.87 billion in 2023. The report also revealed that artisanal and small‑scale mining accounts for over 80% of total production volumes but contributes less than 30% of royalties, highlighting deep governance and structural challenges.
To tackle these issues, Dr. Orji recommended streamlining fiscal and royalty regimes, promoting value addition and local processing, and strengthening environmental, gender, and community‑development frameworks. He underscored the importance of developing critical minerals such as lithium, cobalt, and manganese to position Nigeria advantageously in the global energy‑transition landscape. Additionally, he urged stakeholders to support government efforts to establish a credible National Mineral Reserve Database that would be accessible to investors and the public.
President Bola Tinubu, represented by the Secretary to the Government of the Federation, Senator George Akume, described Nigeria Mining Week as a crucial forum for generating ideas to guide the nation’s economic renewal. The President highlighted 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. He called for responsible harnessing of this wealth to keep more value within the economy, create jobs, and develop industrial clusters.
As reforms continue in the solid minerals sector, NEITI’s call for a harmonized regulatory framework and an end to multiple taxation is seen as a vital step toward unlocking the sector’s full potential and attracting long‑term investment.
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