- within Consumer Protection and Technology topic(s)
Nigeria’s solid minerals sector enters the second half of 2026 at a defining juncture. The 2016 Mining Roadmap has concluded its ten-year mandate, sector revenues have grown more than fivefold in three years, and domestic mineral processing capacity is beginning to emerge at scale. Yet the gap between policy ambition and industrial execution remains the sector’s defining challenge. This report provides a data-driven assessment of developments between December 2025 and June 2026, updating key issues tracked in the 2025 End-of-Year Report and positioning Nigeria’s performance within a global context. Headline indicators remain encouraging as N15.62 billion was remitted to the Federation Account in Q1 2026 alone. The commissioning of a high-purity gold refinery in Lagos and the near-commissioning of the USD600 million lithium processing plant in Nasarawa State provide tangible evidence of the Federal Government’s value-addition policy.
Significant structural constraints nevertheless remain. The Nigeria Tax Act 2025 has increased royalty rates and transferred royalty collection to the Nigeria Revenue Service, fundamentally reshaping the fiscal landscape. Few incentives exist for smaller operators, while key mining reform bills, including the Nigeria Mines Rangers Service Bill, have yet to become law. Meanwhile, the Nigerian Solid Minerals Company has progressed from establishment to active market engagement, but its first commercial joint venture is still expected. Illegal mining, estimated to cost Nigeria about US$9 billion annually, continues despite intensified enforcement efforts. The second half of 2026 will ultimately be judged not by new policy announcements but by implementation. With a N1 trillion budget allocation, Nigeria must now convert policy into infrastructure, legislation, commercial projects, and capable institutions.
To view original Tope Adebayo article, please click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
[View Source]
