FG Rakes In N6.96bn From Mining Fees 

The Federal Government has generated the sum of N6.96billion in mining fees and registered 118 new private mineral buying centres in the first quarter of 2025.
The Minister of Solid Minerals Development, Dr. Dele Alake, who revealed this in a release, said the revenue reflects the outcome of the Ministry’s efforts to raise awareness and attract investors.
The Minister in a statement by his Special Assistant on Media, Segun Tomori, said the mining fees collected by the licensing parastatal, Mining Cadastral Office, came from 955 applications for title grants.
”The Federal Government collected N6,957,826,200 mining fees and registered 118 new private mineral buying centres in the first quarter of this year.
“The revenues are from paying various fees, including annual service fees, application processing fees, and renewal of titles”, to the statement.
It also noted that 651 title applications were approved for exploration, 270 for small-scale mining, 49 for quarrying, and 24 for reconnaissance permits.
The Minister also approved 867 applications, including 512 exploration licenses, 295 small-scale mining leases, 60 quarry leases, and five mining leases.
He added that the cadastral has also stepped up conflict resolution to reduce petitions arising from overlap and litigation over ownership.
Alake disclosed that the Ministry has recorded a lot of progress in plans to set up the Nigerian Solid Minerals Corporation to make its structure a veritable special-purpose vehicle that will catapult Nigeria into the league of global mining players..