Nigeria’s solid mineral exports rose by N113.53 billion year-on-year to reach N249.7 billion during the first half of 2026, marking a significant milestone in the country’s efforts to diversify its foreign exchange earnings. The 83.3% increase compared to the same period in 2025 highlights a sharp rise in the commercial value and volume of mineral products shipped from Nigerian shores.
Data released in the latest Foreign Trade in Goods Statistics report from the National Bureau of Statistics (NBS) confirms that the sector is becoming an increasingly vital component of the national trade balance. The growth follows a sustained period of regulatory adjustments and security interventions intended to formalise artisanal mining and attract institutional investment into the sector.
The total export value for the first six months of 2026 represents a substantial leap from the approximately N136.17 billion recorded in the first half of 2025. This performance aligns with the Federal Government’s target to increase the mining sector’s contribution to the Gross Domestic Product (GDP) beyond its historical average of less than 1%. Analysts suggest that the convergence of higher global commodity prices and improved domestic extraction capacity drove the mid-year figures.
According to the NBS report, the second quarter of 2026 was particularly robust, contributing a larger share to the half-year total. The categories of minerals leading this trade surge include gold bullion, lead concentrates, zinc ores, and increasingly, lithium. The latter has seen a spike in international demand as global manufacturers secure supply chains for battery production and renewable energy storage solutions.
The Ministry of Solid Minerals Development has attributed this growth to the implementation of the “7-Point Agenda,” which focuses on the creation of the Nigerian Solid Minerals Corporation and the deployment of a specialised mining police force to curb illegal extraction. These measures have reportedly reduced the leakage of mineral wealth into the black market, ensuring that more exported volume is captured in official trade statistics.
Strategic Policy Implementation and the Transition Mineral Demand
The rise in export value is partly a result of Nigeria’s strategic shift towards value addition. The government has increasingly discouraged the export of raw, unprocessed ores, encouraging miners to establish processing plants within the country. This policy shift is intended to capture more value within the local economy and create jobs in the manufacturing and refining segments of the mining value chain.
Industry experts note that the global appetite for transition minerals has placed Nigeria in a competitive position. Specifically, the exports of lithium and tin ore have benefited from trade agreements and investment inquiries from Asian and European markets. The Ministry of Solid Minerals Development has recently hosted several investment forums to showcase Nigeria’s cadastral system, which has been digitised to improve the transparency of mining title applications.
The NBS data shows that China remains a primary destination for Nigeria’s solid mineral exports, particularly for base metal ores. However, there has been a notable increase in exports to the United Arab Emirates and parts of the European Union. Gold exports, often routed through official refinery channels, contributed significantly to the total revenue, benefiting from stable international gold prices during the first and second quarters of the year.
Infrastructure remains a critical factor in maintaining this upward trajectory. The completion of specific rail segments linking mining hubs in the North Central and North East regions to southern ports has reduced the logistics costs associated with heavy mineral transport. This improvement in the ease of doing business has allowed mining companies to scale their operations and meet larger export contracts that were previously logistically unfeasible.
Despite the positive data, the sector still faces hurdles related to access to finance for small-scale miners and the ongoing need for more geological data. The Nigerian Geological Survey Agency has been tasked with expanding its data-gathering activities to provide prospective investors with high-quality bankable data, which is essential for large-scale mining projects.
The financial impact of this export growth is expected to provide some relief to Nigeria’s foreign exchange reserves. As the central bank continues to manage liquidity in the FX market, the consistent growth of non-oil exports like solid minerals offers a more sustainable path to currency stability compared to the volatile oil and gas sector.
Looking at the remainder of the year, the government expects the upward trend to continue as several new processing plants are scheduled to begin operations. The second half of 2026 will likely see the impact of new mining leases granted to international firms earlier in the year, which are now moving into the production phase. The NBS is expected to release the third-quarter trade report in December, which will provide further clarity on whether the sector can maintain this 83% growth rate through the end of the fiscal year.
Explore more Business stories and analysis from Business Elites Africa.
