Nigeria generated ₦101.11bn from solid minerals in the first nine months of 2026, representing a 95.2 per cent increase from the ₦51.79bn recorded during the same period in 2025. The growth was largely driven by higher mineral royalty payments.
Data from the Central Bank of Nigeria’s revenue collection report showed that June collections rose to ₦16.31bn, up 243.7 per cent from the ₦4.75bn recorded in June 2025. The revenue account domiciled with the CBN receives payments from mineral royalties, ministry fees and other sources.
An analysis of the January to September figures showed that mineral royalties contributed ₦66.12bn, representing 65.4 per cent of total revenue. Fees collected by the Federal Ministry of Solid Minerals Development accounted for ₦33.54bn, while miscellaneous receipts contributed ₦1.45bn.
In June, royalties generated ₦12.62bn, ministry fees brought in ₦3.66bn, while miscellaneous revenue stood at ₦32.12m. Royalties accounted for approximately 77.4 per cent of the month’s total collections.
July recorded the highest monthly revenue during the period, with collections reaching ₦29.13bn. Mineral royalties contributed ₦25.78bn, ministry fees generated ₦2.41bn and miscellaneous receipts accounted for ₦938.29m.
However, revenue fell to ₦8.47bn in August before rising slightly to ₦8.78bn in September. August collections included ₦8.04bn in royalties, ₦70.84m in ministry fees and ₦362.19m in miscellaneous receipts, while September recorded ₦6.90bn in royalties, ₦1.77bn in fees and ₦116.98m in miscellaneous revenue.
Minister of Solid Minerals Development, Dele Alake, has attributed the sector’s improving performance to government reforms, stronger enforcement and the formalisation of mining activities. Speaking at a conference in Abuja in May 2026, he said the sector was recording measurable gains, although it was yet to reach the level of a mature mining industry.
