Nigeria’s solid mineral exports rose by N113.53 billion to N249.70 billion in the first half of 2026, reflecting a significant increase in the country’s mineral trade.
An analysis of the National Bureau of Statistics’ Foreign Trade Statistics shows that solid mineral exports increased by about 83.4% from N136.17 billion recorded in the first half of 2025.
The increase was driven by stronger performances in both quarters of the year.
In the first quarter, mineral exports rose to N102.80 billion from N58.87 billion recorded in the corresponding period of 2025. The value increased further to N146.91 billion in the second quarter, compared with N77.31 billion a year earlier.
The second quarter accounted for about 59% of total solid mineral exports in the first half of the year, while the first quarter contributed roughly 41%.
Monthly figures for the second quarter showed exports of N50.43 billion in April, N39.27 billion in May and N57.20 billion in June, with June recording the highest monthly value.
Despite the growth, solid minerals continued to account for a relatively small share of Nigeria’s total exports. Their contribution rose to 0.49% of total exports in the first quarter from 0.29% a year earlier, while the second-quarter share increased to 0.54% from 0.34%.
The stronger performance comes amid Federal Government efforts to formalise mining activities, improve revenue collection, tighten licensing and encourage investment in mineral processing.
The Nigeria Revenue Service assumed responsibility for collecting mineral royalties from mining operators in April following the implementation of the Nigeria Tax Laws 2025.
Government policies aimed at encouraging local value addition have also attracted more than $800 million in processing projects, according to earlier reports.
However, the latest export figures also highlight the need for greater investment in domestic processing. Moving beyond the export of largely unprocessed minerals could increase foreign exchange earnings, government revenue and the sector’s contribution to industrial development.
The solid minerals sector generated more than N38 billion in revenue in 2024, compared with N6 billion in 2023, highlighting its growing importance to Nigeria’s diversification efforts.
