President Bola Tinubu has said that Nigeria has no reason to remain poor, given its vast natural resources and human potential.
Speaking at the 2025 Nigeria Mining Week in Abuja, Tinubu described the country as richly endowed with solid minerals capable of driving economic transformation.
The President, represented by the Secretary to the Government of the Federation, Senator George Akume, said the administration is determined to unlock the mining sector’s full potential.
“Nigeria has no reason to be poor, given our abundant resources and talented people,” Tinubu 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.”
He described the Nigeria Mining Week as a global platform for shaping ideas that could drive investor collaboration and national economic renewal.
The President also assured that the Federal Government would continue to ensure that mining areas remain safe for all stakeholders, including investors, workers, and host communities.
Tinubu emphasized Nigeria’s strategic role in Africa’s economic development.
He said that when Nigeria’s mining sector thrives, it signals Africa’s readiness to embrace value-added resource development.
According to him, the continent holds about 30 percent of the world’s known mineral reserves, including critical minerals that power modern industries.
“We must harness this wealth responsibly,” Tinubu said.
“It is our duty to ensure that more value remains within our economies, creating jobs and industries for our people.”
Meanwhile, the Nigeria Extractive Industries Transparency Initiative (NEITI) called for policy reforms to strengthen the mining sector’s regulatory framework. NEITI’s Deputy Director of Communications and Stakeholders Management, Chris Ochonu, urged the government to adopt a transparent and harmonized policy environment to attract long-term investments.
Ochonu noted that while progress had been made in improving licensing procedures, challenges such as multiple taxation and policy overlaps continued to discourage credible investors.
The Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, described the mining sector as a key component of Nigeria’s economic diversification and energy transition plan.
He cited NEITI’s 2023 Solid Minerals Industry Report, which showed that the sector’s contribution to GDP remains below one percent despite modest revenue growth from ₦339.57 billion in 2022 to ₦401.87 billion in 2023.
Dr. Orji said artisanal and small-scale mining accounted for over 80 percent of production but contributed less than 30 percent of royalties.
He stressed that this gap highlighted deep structural challenges requiring urgent reforms.
Also speaking, the Minister of Solid Minerals Development, Dele Alake, presented a status report on the government’s ongoing reforms to transform the mining sector into a major driver of national growth.
At a side event organized by the Kaduna Mining Development Company, Dr. Orji further emphasized the importance of transparency and accountability in subnational mining companies to boost investor confidence and sustainable impact.
