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Solid Minerals Revenue Doubles to N101bn on Higher Royalties
Nigeria’s solid minerals revenue rose by 95.2 per cent to N101.11bn in the first nine months of 2026, up from N51.79bn in the same period of 2025, driven by increased royalty payments.
Data from the Central Bank of Nigeria showed that collections in June alone reached N16.31bn, a 243.7 per cent rise from N4.75bn in June 2025.
The revenue, which comprises royalties, fees and miscellaneous receipts, is warehoused in an account with the CBN.
Analysis of the nine-month figures shows royalties accounted for N66.12bn, or 65.4 per cent of total receipts. Fees collected by the Federal Ministry of Solid Minerals Development contributed N33.54bn (33.2 per cent), while miscellaneous revenue was N1.45bn.
In June, royalties made up N12.62bn or 77.4 per cent of the month’s total, with fees at N3.66bn.
July recorded the highest monthly collection at N29.13bn, including N25.78bn in royalties. Collections then fell to N8.47bn in August and N8.78bn in September, highlighting volatility in the sector.
The Minister of Solid Minerals Development, Dele Alake, said reforms, stronger enforcement and formalisation of mining activities were improving revenue performance.
Nigeria generated N68.1bn in total solid minerals revenue in 2025.
