Mining Sector Generates N73.9 Billion Revenue Over Four Years
The Mining Cadastre Office (MCO) has generated a total of N73.9 billion in revenue over the past four years, signaling a steady uptick in sectoral activity and growing investor confidence in Nigeria’s solid minerals sector.
According to data released by the agency, the MCO processed 66,768 mineral title applications during the period, encompassing both new submissions and requests to modify existing licenses.
Of the new applications received, 30,799 were approved, while 22,619 were rejected. A total of 11,525 licenses were revoked in accordance with regulatory provisions.
Regarding modification requests, the agency approved 4,772 applications and rejected 409. Additionally, 13,326 mineral titles expired within the four-year timeframe.
The figures further reveal a sharp rise in the agency’s annual revenue, with year-on-year growth recorded as follows: N3.79 billion in 2022; N6.07 billion in 2023; N12.58 billion in 2024; and N33.49 billion in 2025.
The substantial increase recorded in 2025 was largely driven by initial service fee payments, consent submissions, conflict resolution processes, and a surge in new mineral title applications.
In an exclusive interview with The Guardian, the MCO’s Director-General, Obadiah Nkom, noted that the agency has deliberately remained modest about its accomplishments, despite earning national recognition for innovation and digital transformation.
Nkom highlighted the full migration of the MCO’s operations to a web-based platform as a key milestone. He explained that this digital overhaul has significantly improved efficiency and transparency in the licensing process.
“We have been very modest and we don’t talk much about the whole thing, but the achievements are there,” he said. “Apart from being singled out as one of the best federal agencies in the country in terms of digitalisation and innovation, we have received several awards recognising our work.
“The system itself has been migrated to an online platform. It has been almost two years, about two years and three months, since we migrated, and it has been performing wonderfully.”
According to Nkom, the digital transformation has played a key role in attracting more foreign direct investment into Nigeria’s mining sector, with a growing number of international firms applying for mining licenses. He also pointed to the country’s favourable geology and vast mineral deposits as fundamental draws for investors.
Nkom further attributed the sector’s recent progress to broader reforms championed by the administration of President Bola Ahmed Tinubu, as well as targeted policy initiatives introduced by the Minister of Solid Minerals Development, Dele Alake.
