By David Akinmola
Nigeria’s solid mineral exports rose by N113.53 billion to N249.7 billion in the first half of 2026, reinforcing the growing contribution of the mining sector to the country’s efforts to diversify export earnings away from crude oil.
The latest performance, based on foreign trade statistics from the National Bureau of Statistics (NBS), represents a substantial increase over the corresponding period and reflects stronger demand for Nigerian mineral resources in international markets. In the second quarter alone, solid mineral exports reached N146.91 billion, up 42.91 per cent from N102.80 billion recorded in the first quarter.
Year-on-year, the Q2 performance represented a 90.03 per cent increase from N77.31 billion recorded in the corresponding quarter of 2025, underscoring the rapid expansion in the value of mineral exports.
The latest figures come as the Federal Government intensifies efforts to position solid minerals as a major source of foreign exchange, investment and government revenue, with the sector identified as a key pillar of Nigeria’s economic diversification strategy.
Among the major mineral products exported in the second quarter were other mineral substances not elsewhere specified, with shipments to China valued at N30.67 billion, while cement clinker exports to Cameroon and the Republic of Benin were valued at N12.34 billion and N5.26 billion respectively.
The stronger export performance also coincides with increased investment interest in the sector. The Federal Government said earlier this year that Nigeria had attracted about $3 billion in investments into solid minerals over the preceding three years, covering lithium, gold and other strategic minerals.
The government is targeting an increase in the contribution of mining to Gross Domestic Product from less than one per cent to three per cent by 2030, with reforms focused on improving investment, formalising mining activities and strengthening the sector’s contribution to national development.
However, the rise in export value also highlights the need for greater domestic processing and value addition, as Nigeria risks losing higher-value economic opportunities if minerals continue to leave the country largely in raw or semi-processed forms.
Industry analysts have identified insecurity, illegal mining, inadequate infrastructure, weak regulatory enforcement, limited financing and low levels of value addition among the structural challenges that continue to constrain the sector.
The Federal Government has consequently been promoting investment in processing and infrastructure while seeking to formalise artisanal mining operations and attract private capital into mineral development.
The stronger H1 export performance suggests that the mining sector could play a larger role in Nigeria’s foreign exchange earnings and economic diversification if the current momentum is matched by investments in exploration, processing and local manufacturing.
For the economy, stakeholders say the ultimate test will be whether rising mineral exports can translate into more domestic jobs, higher government revenue, increased foreign exchange earnings and the development of a local minerals-processing industry rather than simply higher volumes of raw mineral exports.
