Increased revenue from mining shows President Tinubu’s reforms yielding desired results – Group
The Tinubu Media Volunteers (TMV) has attributed the surge in federation revenue from the solid minerals sector to the elaborate economic reforms being implemented under the administration of President Bola Tinubu.
This was after data emanating from the Central Bank of Nigeria’s solid minerals collection report showed that revenue from the sector rose by 95.2 per cent to N101.11 billion in the first nine months of 2026, compared with N51.79 billion recorded in the corresponding period of 2025.
In a statement by its Chairman, Chukwudi Enekwechi and Secretary, Segun Ogedengbe, the group noted that until now, the sector was in the doldrums.
“We recall that the president had shown more than a passing interest in the solid minerals sector; hence, he appointed Mr Dele Alake as the Minister, and since then the country has continued to witness remarkable progress in the sector, especially with the creation of mining marshals and reduction in illegal and unauthorised mining across the country.
“These measures have contributed in no small way to boosting federal government collectable revenue in the sector. For example, Nigeria generated N16.31 billion in June 2026, representing a 243. 7 per cent increase in revenue from N4.75 billion collected in June 2025.
“This indicates that revenue from the sector more than tripled year-on-year, showing a significant improvement in government revenue from mining activities in the midst of efforts to diversify the economy from dependence on crude oil.
“It is noteworthy that the revenues collected are mainly from royalties rather than fees paid by mining operators in the country,” TMV said.
The group applauded the renewed vigour injected into the sector, which has not only increased revenue accruing to the country but also created job opportunities for Nigerians across the solid minerals value chain.
