Abuja, NIGERIA – The Federal Ministry of Mines and Steel Development has declared an end to the era of “potential” for Nigeria’s mining sector, vowing to transform the industry into a primary economic powerhouse that will rival the country’s oil earnings.
Okay News understands that the Ministry has set an ambitious 2027 deadline to achieve a complete overhaul of the sector. Central to this roadmap is the creation of 500,000 direct jobs for Nigerian youth, a move aimed at reducing unemployment through the aggressive exploration and processing of solid minerals.
In a bold statement released on Friday, April 10, 2026, the Ministry emphasized that Nigeria’s untapped wealth in minerals such as gold, lithium, tin, zinc, coal, and iron ore far exceeds the historical value of its petroleum resources. The government aims to halt the importation of materials that can be sourced locally, thereby saving billions in foreign exchange. “Nigeria has more untapped mineral wealth than oil ever gave us,” the Ministry stated. “The era of ‘potential’ is over. This is the era of production.”
A key pillar of this new strategy is to return Nigeria to the ranks of the world’s top 10 steel producers. By revitalizing national steel infrastructure and localizing the industrial value chain, the government intends to position the country as a global leader in metal manufacturing within the next year.
The “mining revolution” is already showing significant financial momentum, having successfully attracted over $2.6 billion in foreign direct investment (FDI) over the past two years. These investments are currently funding critical projects, including the establishment of modern lithium processing plants and the technical revival of dormant steel mills.
This “strategic shift” comes as the Federal Government intensifies efforts to diversify the economy and build a resilient, non-oil dependent future. The Ministry called on investors and citizens alike to “join the revolution,” signaling a firm commitment to industrialization and job-led economic growth.
