President Bola Tinubu has said that Nigeria, blessed with abundant natural and human resources, has no justification for remaining poor.
Speaking at the 2025 Nigeria Mining Week in Abuja on Wednesday, President Tinubu—represented by the Secretary to the Government of the Federation, Senator George Akume—said the country’s vast solid mineral deposits present a clear path to national prosperity if properly harnessed.
“Nigeria has no reason to be poor, given our abundant resources and talented people,” he said. “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.”
The President described the Nigeria Mining Week as an emerging global platform generating ideas and partnerships to drive Nigeria’s economic transformation through private investment and innovation.
He assured that his administration was committed to creating a secure and enabling environment for investors, workers, and host communities in the mining sector.
“When our mining sector thrives, it signals that value-added resource development is Africa’s way forward,” Tinubu said, noting that Africa holds about 30 per cent of the world’s known mineral reserves and vast deposits of critical minerals driving the modern global economy.
“We must harness this wealth responsibly, ensuring that more value remains within our economies, creating jobs and industrial clusters,” he added.
Earlier, the Deputy Director of Communications and Stakeholders Management at the Nigeria Extractive Industries Transparency Initiative (NEITI), Chris Ochonu, urged policymakers to establish a harmonised and transparent regulatory framework to attract long-term capital and sustain sectoral growth.
Ochonu acknowledged progress in Nigeria’s mining licensing process but warned that policy inconsistencies and multiple taxation still discourage credible investors.
NEITI’s Executive Secretary, Dr. Orji Ogbonnaya Orji, said the solid minerals sector was undergoing major reforms to reposition it as a key pillar of economic diversification and energy transition.
Citing the NEITI 2023 Solid Minerals Industry Report, Orji revealed that while the sector’s contribution to GDP remains below one percent, revenues grew from ₦339.57 billion in 2022 to ₦401.87 billion in 2023.
He noted that artisanal and small-scale miners accounted for more than 80 per cent of total production volumes but less than 30 per cent of royalties, exposing structural and governance challenges that require urgent attention.
“The sector’s growth remains far below its potential,” he said. “We must strengthen regulation, transparency, and value addition to unlock its true capacity.”
Minister of Solid Minerals Development, Dele Alake, also presented an update on reforms introduced under the current administration, aimed at transforming the mining sector into a driver of sustainable economic growth.
On the sidelines of the Mining Week, Dr. Orji addressed a special forum organised by the Kaduna Mining Development Company, where he highlighted the importance of accountability and transparency in boosting productivity and investor confidence.
He stressed that sub-national mining companies have a strategic role to play in attracting investment, deepening institutional reforms, and supporting inclusive economic development at the state level.
