President Bola Tinubu says coal mining is becoming one of Nigeria’s fastest-growing sectors.
According to him, coal mining recovered dramatically from a 22 per cent decline in the first quarter to 57.5 per cent growth in the second quarter, becoming one of Nigeria’s fastest-growing sectors.
Mr Tinubu said this in his national broadcast to mark Nigeria`s 65th independence anniversary on Wednesday.
He said that the solid mineral sector was now pivotal in Nigeria`s economy, encouraging value-added production of minerals extracted from its soil.
The president said his administration inherited a near-collapsed economy caused by decades of fiscal policy distortions and misalignments, which had impaired real growth, but remained determined to change the situation.
“As a new administration, we faced a simple choice: continue business as usual and watch our nation drift, or embark on a courageous, fundamental reform path.
“We chose the path of reform.
“We chose the path of tomorrow over the comfort of today. Less than three years later, the seeds of those difficult but necessary decisions are bearing fruit,” he said.
Mr Tinubu said that under his leadership, Nigeria`s economy was fast growing and its reforms were already yielding tangible results.
“The second quarter 2025 Gross Domestic Product (GDP) grew by 4.23 per cent, Nigeria’s fastest pace in four years and outpaced the 3.4 per cent projected by the International Monetary Fund (IMF).
“Inflation declined to 20.12 per cent in August 2025, the lowest level in three years,” he said.
He said that his administration was working diligently to enhance national security to ensure that the economy experienced improved growth and performance.
According to him, security agencies are working tirelessly and making significant sacrifices to secure Nigeria and are winning the war against terrorism, banditry and other violent crimes.
The minister of solid minerals development, Dele Alake had in 2024, constituted the mining marshals, a security unit drawn from the Nigerian Security and Civil Defence Corps.
It is aimed at securing mining sites across the country following a surge of illegal mining activities.
The minister, during the one-year anniversary of the security outfit in March, said the unit had arrested 327 suspects for illegal mining, with 143 prosecuted and reclaimed 98 mining sites.
Mr Alake also introduced the value addition policy where mining companies were required to present clear plans for value addition to minerals before they can obtain mining licences.
(NAN)
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