Nigeria’s solid minerals sector has generated N26 billion in revenue from licensing fees so far in 2025, the federal government has revealed.
Announcing the figure, Minister of Solid Minerals Development Dr. Dele Alake tied the surge in income to the groundbreaking of a $400 million rare-earth processing plant by Hasetins Commodities in Uke, Nasarawa State.
In a speech titled “The Road to Self-Reliance in the Solid Minerals Sector,” Alake said technological shifts — particularly driven by climate change and the rise of electric vehicles — have boosted demand for critical minerals. He went on to praise the Tinubu administration’s reforms, saying under its leadership, the mining sector has become a “newest pillar of growth” in the Nigerian economy.
Alake added that the rare-earth project by Hasetins “was an eloquent testimony … of the drive and willpower of the Nigerian … awakening of the national consciousness.”
Hasetins’ Managing Director, Prince Jidayi, likewise emphasized the plant’s transformational potential, observing that it could “create not less than 10,000 jobs, which will stimulate economic growth.” He said the facility aligns with efforts to diversify the Nigerian economy away from oil dependency, attract more investors, and reinforce the country’s role in the global mining industry.
Jidayi further committed to sustainability, promising that:
“This project, this plant we’re setting up, will embrace sustainable practices, ensuring that we protect our environment while we innovate and we advance.”
He also highlighted Hasetins’ strategy to boost local communities through the establishment of regional separation hubs, training programs, and support for artisanal miners.
At the same event, Nasarawa State Governor Abdullahi Sule remarked that the rare-earth plant aligns with President Tinubu’s “seven-point agenda,” particularly regarding value addition and national security.
