# Nigeria mineral resource management and economic policy

> Live situation record from CLSTR: https://clstr.news/situations/nigeria-mineral-resource-management-and-economic-policy
> Updated: 2026-10-03T09:14:14.000Z. Sources: 4. Developments: 2.

Nigeria is navigating the challenges of the ‘resource curse,’ where its vast mineral wealth—including gold, lithium, and iron ore—has not consistently translated into widespread prosperity. While the nation possesses over 44 commercially viable minerals across 500 locations, many resource-hosting communities face high levels of terrorism, banditry, and violence. 

Historical shifts in governance, specifically the Petroleum Decree of 1969 and the Land Use Act of 1978, centralized mineral ownership under the Federal Government, creating a landlord-tenant dynamic between the state and host communities. This centralization has led to significant disparities in how subnational governments manage assets; while some states have seen massive growth in internally generated revenue, others remain heavily dependent on federal distributions.

To address these issues and reduce heavy dependence on oil revenue, the Nigerian government has sought economic diversification through the solid minerals sector. Efforts to develop this industry include the 2016 Roadmap for the Growth and Development of the Nigerian Mining Industry, which aimed to address infrastructure and financing constraints. Under the administration of President Bola Tinubu, there is a continued emphasis on leveraging these minerals to support the goal of growing Nigeria into a ‘one trillion dollar economy by 2030.’

## Timeline

### 2026-10-03: Nigeria seeks economic diversification through solid minerals

Nigeria aims to diversify its economy by developing its vast solid mineral resources to reduce dependence on oil revenue and reach a one trillion dollar economy by 2030.

2 sources. https://clstr.news/cluster/nigeria-seeks-economic-diversification-through-solid-minerals

### 2026-09-11: Nigeria struggles to convert mineral wealth into state revenue

Nigeria struggles to convert vast mineral wealth into state revenue, with some resource-rich regions facing low revenue and high insecurity while others, like Enugu, see significant growth.

2 sources. https://clstr.news/cluster/nigeria-struggles-to-convert-mineral-wealth-into-state-revenue

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Cite as: Nigeria mineral resource management and economic policy. CLSTR, https://clstr.news/situations/nigeria-mineral-resource-management-and-economic-policy