The Nigerian government has set an ambitious goal to diversify the nation’s economy, aiming for the mining sector to
contribute as significantly to the Gross Domestic Product (GDP) as oil and gas within the next decade. President Bola Tinubu articulated this vision during the
opening ceremony of the 10th edition of Nigeria Mining Week 2025, held in Abuja. Represented by the Secretary to the
Government of the Federation (SGF), Senator George Akume, President Tinubu emphasized the administration’s
commitment to reducing dependency on a single mineral resource for national sustenance.Current economic data indicates that the oil sector accounts for
approximately 4.05% of Nigeria’s GDP as of the second quarter of 2025. In contrast, the solid mineral industry has surpassed this figure, contributing 4.61% to the
nation’s GDP during the same period. Despite this, oil remains dominant, contributing about 65% of government revenue and over 85% of export
earnings.President Tinubu envisions a future where Nigeria’s mining sector plays a pivotal role in the economy. He imagines a Nigeria a decade from now, where the
contribution of mining to GDP rivals that of oil, with steel mills in Kaduna and Katsina operating at full capacity. In this future, Nigerian-made batteries, solar
panels, and precious metal products are being exported worldwide, proudly stamped ‘Made in Nigeria.’This strategic shift aligns with the government’s broader
economic diversification efforts, aiming to harness the nation’s vast mineral resources for sustainable development and reduced reliance on oil exports.
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