Nigeria solid minerals revenue reaches N101.11bn in nine months

Nigeria’s solid minerals revenue increased by 95.2 per cent to N101.11bn during the first nine months of 2026, according to a Central Bank of Nigeria report. This figure significantly exceeds the N68.1bn reported for the entirety of 2025.

The growth was primarily driven by mineral royalties, which accounted for N66.12bn, or 65.4 per cent of the total revenue. Fees paid to the Ministry of Solid Minerals Development contributed N33.54bn, representing 33.2 per cent, while miscellaneous receipts totaled N1.45bn.

Monthly collections showed significant volatility. June 2026 saw a peak of N16.31bn, a 243.7 per cent increase from June 2025. July recorded the highest single month at N29.13bn, followed by a decline to N8.47bn in August and N8.78bn in September. Since January 1, 2026, the Nigeria Revenue Service has been responsible for collecting mineral royalties under new tax laws, while the ministry maintains its regulatory role.