FG establishes 388 mineral buying centres to formalise mining sector
Nigeria's Ministry of Solid Minerals established 388 mineral buying centres in 2024 to formalise artisanal mining and boost government revenue. The centres serve as regulated points where miners can legally sell minerals like gold and lithium, replacing informal channels that caused revenue losses through smuggling. Minister Dele Alake announced 350 arrests of illegal miners and over 150 prosecutions, while training sessions integrated artisanal miners into formal cooperatives to make them bankable and eligible for royalties. The ministry achieved 80% budget implementation and generated N28 billion revenue, exceeding its N11.8 billion target. This addresses decades of informal mining that undermined environmental standards and national security.