- The year began on a modest note, with January recording N4.18 billion, followed by N3.78 billion in February
- By the close of the first quarter, total remittances stood at just over N10 billion
- the data shows that a handful of months particularly April, May, August, September and October accounted for the bulk of inflows
Nigeria’s solid minerals industry paid a total of N63.92 billion into the Federation Account between January and November 2025, highlighting the sector’s rising importance to government revenue despite wide monthly swings performance.
Eko Hot Blog reports that figures submitted to the Federation Account Allocation Committee (FAAC) in December revealed an uneven revenue pattern, marked by a slow start, a strong rebound in the second quarter, and a mild slowdown toward the end of the year due to security and operational challenges.
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The year began on a modest note, with January recording N4.18 billion, followed by N3.78 billion in February. Combined, the first two months delivered less than N8 billion, reflecting limited activity in the early part of the year.
March saw collections drop further to N2.15 billion, the lowest monthly return within the eleven-month period, largely linked to reduced production and export volumes.
By the close of the first quarter, total remittances stood at just over N10 billion, accounting for a small fraction of the overall inflow, indicating that stronger earnings were yet to come.
A major turnaround occurred in April when payments jumped to N7.88 billion, signalling renewed momentum across mining operations. The upswing peaked in May, which emerged as the best-performing month with N9.66 billion remitted.
June sustained the positive trend with N4.75 billion, pushing first-half earnings to about N32.34 billion, more than half of the January–November total.
The third quarter maintained steady growth, as July contributed N5.84 billion, August added N6.23 billion, and September recorded N7.32 billion, ranking among the strongest months of the year. October followed closely with N6.86 billion, keeping revenue at relatively high levels.
However, November collections dipped to N5.28 billion, reflecting disruptions in mining activities caused by rising insecurity in some parts of the country. Despite the decline, the figure still surpassed early-year returns.
In its submission to FAAC, the Ministry of Solid Minerals Development explained that November revenue comprised over N3.43 billion from royalties and N1.84 billion from fees.
While the ministry exceeded its monthly target, it recorded a drop compared to October, attributing the reduction to security concerns affecting mining operations.
Overall, the data shows that a handful of months particularly April, May, August, September and October accounted for the bulk of inflows, underscoring the sector’s volatility.
Analysts say the trend confirms that although solid minerals are becoming a stronger revenue source, performance remains closely tied to security conditions, infrastructure, and regulatory efficiency.
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