Tinubu Administration @1: FG Generates N16bn Revenue from Mining Sector

The Minister of Solid Minerals Development, Hon. Minister Dele Alake said Tinubu administration has generated N16 billion revenue from mining activities.

Alake disclosed this on Thursday during the Ministerial briefing to mark one year anniversary of Tinubu administration in Abuja.

He said the target of N10,566,635,560.24 was exceeded by an additional surplus of N6,746,317,807.09, adding that the ministry also achieved a 72.1% positive variance in December last year, generating N14,938,164,335.43.

This performance exceeded the annual budget target of N8,680,197,621.00 for 2023 by 172.1%.

The Minister highlighted that the efforts to enhance the country’s economy by expanding the solid minerals sector have shown promising outcomes.