Minister of Solid Minerals Development, Dr. Dele Alake, has assured both local and international investors that Nigeria’s mining sector offers immense opportunities for wealth creation and long-term returns, describing it as one of the most profitable sectors of the country’s economy.
Alake made the statement on Sunday while addressing stakeholders at a mining and investment forum in Abuja. He noted that the present administration has introduced a series of reforms to reposition the solid minerals sector as a major revenue earner beyond oil.
According to him, Nigeria is richly endowed with over 44 commercially viable mineral resources spread across different states, ranging from gold, lithium, lead-zinc, and limestone to rare earth elements critical for modern technology. He stressed that global demand for many of these minerals has continued to rise, making Nigeria a strategic investment destination.
“The Nigerian mining sector is not only profitable but also safe for genuine investors,” Alake said. “With the policies we have put in place—such as transparent licensing, improved security around mining sites, and investor-friendly tax incentives—this sector is set to become a major contributor to our GDP.”
He further disclosed that the government is tackling illegal mining activities while creating a conducive environment for partnerships with international firms. Alake also highlighted Nigeria’s strategic advantage, including its youthful workforce and proximity to key global markets.
The minister urged Nigerian entrepreneurs, foreign investors, and financial institutions to seize the opportunities in the sector, noting that the government’s roadmap aims to generate millions of jobs and diversify the economy.
Stakeholders at the forum commended the government’s commitment, emphasizing that with proper infrastructure and policy continuity, Nigeria’s mining industry could rival oil as a dominant source of foreign exchange earnings.
