Michael Eboh
Dublin, Ireland — Nigeria’s earnings from solid minerals rose by 192.7 per cent to N63.922 billion in 11 months, between January and November 2025, compared with N21.839 billion recorded in the same 11-month period in 2024, according to latest data released by the Ministry of Solid Minerals Development (MSMD).
The MSMD, in its presentation to the Federation Account Allocation Committee (FAAC), however, noted that the country’s earnings from the solid minerals industry dropped by 23.04 per cent to N5.277 billion in November 2025, compared with N6.857 billion recorded in the previous month.
Nonetheless, the solid minerals sector regulator stated that the amount earned from the industry in November 2025, was 119.24 per cent higher than the N2.407 billion recorded in November 2024.
Giving a breakdown of its revenue for the 11-month period of 2025, the MSMD noted that in January, February, March, April, May and June 2025, the country earned N4.176 billion, N3.782 billion, N2.146 billion, N7.884 billion, N9.656 billion and N4.747 billion, respectively.
In addition, the country earned N5.841 billion, N6.231 billion, N7.324 billion, N6.857 billion and N5.277 billion, in July, August, September, October and November 2025, respectively.
In contrast, in January, February, March, April, May and June 2024, revenue from the solid minerals sector stood at N945.436 million, N746.163 million, N1.723 billion, N1.043 billion, N1.755 billion, and N2.518 billion, respectively, while the country earned N1.697 billion, N2.108 billion, N3.493 billion, N3.402 billion and N2.407 billion, from the sector in July, August, September, October and November 2024, respectively.
The MSMD noted that its revenue was mainly from royalties and fees collection, adding that its revenue is grouped into royalty from minerals, used and sold; and fees mainly from annual service charges; registration and issuance of mining licenses.
Giving a breakdown of its November 2025 revenue, the solid minerals sector regulator disclosed that of the N5.277 billion earned in the month under review, N3.435 billion was from royalties, while N1.842 billion was realised from fees collection in the month.
In comparison, in October 2025, of the N6.857 billion revenue from the solid minerals sector, N2.987 billion was from royalty, while N3.87 billion was from fees.
Explaining its performance in November 2025, the ministry stated that the decline in its revenue in the month under review compared to earnings in October 2025, was due to a decrease in collection.
It blamed the decrease in collection in November 2025 to a decline in mining activities largely due to a sudden spike in insecurity across the country.
However, it explained that the N5.277 billion revenue from the solid minerals sector in November 2025 was 71.67 per cent higher than the monthly target of N3.074 billion.
It said: “The Ministry recorded a positive variance of N2.204 billion when the monthly collection is compared to the monthly target. However, there is also a negative variance of N1.58 billion, when you compare the current month collection against last month collection.”
