By Adedapo Adesanya

The Ministry of Solid Minerals Development recorded an increase in revenue, rising to over N70 billion in 2025 from about N16 billion in 2023.

The development was disclosed by Mr Segun Tomori, the Special Assistant on Media to the Minister of Solid Minerals Development, Mr Dele Alake.

The statement attributed the growth to wide-ranging reforms and strategic policies that have repositioned Nigeria’s mining sector and attracted renewed global interest.

It was revealed that upon assumption of office, revenue from the sector increased from N16 billion in 2023 to N38 billion in 2024 and is projected to exceed N70 billion by the end of 2025.

He said the improvement followed the implementation of Mr Alake’s seven-point agenda, which focuses on reforms, transparency, investor confidence, and local value addition.

As part of the reforms, the ministry revoked 1,633 mining licenses in late 2023 over non-payment of annual service fees, while another 924 dormant licenses were revoked in early 2024 to create room for serious investors.

In addition, the guidelines for Community Development Agreements (CDAs) were revised to ensure host communities give consent before licences are approved.

Illegal mining, identified as a major challenge in the sector, has been addressed through the establishment of mining marshals in 2024.

Within a year, more than 300 illegal miners were arrested, about 150 are undergoing prosecution, and 98 illegal mining sites have been recovered.

Mr Tomori said nationwide satellite surveillance of mining sites is expected to commence in 2026 to strengthen enforcement.

At the continental level, Nigeria’s push for local value addition led to the formation of the Africa Minerals Strategy Group, which elected Mr Alake as its pioneer chairman.

The statement added that the revenue growth, though unprecedented, remains a fraction of the sector’s vast potential, adding that reforms will be consolidated in 2026 to make solid minerals a major contributor to Nigeria’s Gross Domestic Product.

On federal and state conflicts over mining control, Mr Tomori said the minister introduced cooperative federalism, encouraging states to apply for mining licences and operate through limited liability companies.

The spokesperson said this approach has resulted in joint venture investments in states including Nasarawa, Kaduna, Oyo, and the Federal Capital Territory (FCT).

He further disclosed that lithium processing plants are emerging across the country, a $400 million rare-earth metals facility is in the pipeline, and about $1.5 billion in foreign direct investment has been attracted to the sector since 2023.

By Aduragbemi Omiyale

Champion Breweries Plc recently issued its 5-year fixed rate senior unsecured bond to investors at a coupon of 19.50 per cent under its N45 billion bond issuance programme.

The exercise saw about N30 billion raised, with participation from a diverse set of institutional investors, including Pension Fund Administrators (PFAs), asset managers, trustees, a bank, a registrar and High Net-Worth Individuals (HNIs), underscoring strong confidence in Champion Breweries’ credit quality and long-term growth strategy under its management team and board of directors.

Business Post reports that one of the major facilitators of the transaction was Rand Merchant Bank, which acted as lead issuing house and bookrunner.

Proceeds from the issuance would be strategically used to enhance operational efficiency, enabling Champion Breweries sustain growth and deliver long-term value to stakeholders.

This landmark transaction marks a significant milestone as Champion Breweries continues to expand its footprint and strengthen its position in Nigeria’s beverage industry.

It is the first bond to be issued by a player in the breweries sub-sector in Nigeria, signalling the company’s ambition to diversify its funding sources, strengthen its capital structure, and position Champion Breweries for sustainable growth in a competitive market.

“The successful bond issuance is more than a financing milestone; it is a statement of intent. By accessing the debt capital markets, we have demonstrated the strength of our governance, the resilience of our business model, and the confidence investors place in our long‑term vision,” the chairman of Champion Breweries, Mr Imo-Abasi Jacob, commented.

On his part, the chief executive of Champion Breweries, Mr Inalegwu Adoga, said, “This successful Bond Issuance reflects investor confidence in Champion Breweries and our strategic direction under EnjoyCorp. With this capital, we are focused on driving operational efficiency and unlocking opportunities that will sustain growth and reinforce our leadership in Nigeria’s beverage market.”

Also speaking, an Executive Director at Rand Merchant Bank Nigeria Limited and Head of Investment Banking for Broader Africa, Mr Chidi Iwuchukwu, said, “Champion Breweries Plc’s maiden Bond Issuance is a significant milestone for the breweries sub-sector and reflects the increasing depth of Nigeria’s debt capital markets.

:Rand Merchant Bank is proud to have partnered with Champion Breweries as lead issuing house and bookrunner, leveraging our expertise in credit ratings advisory, transaction structuring, debt advisory, as well as investor and regulatory engagements to deliver seamless execution.

“This success reinforces our commitment to delivering holistic solutions that help clients achieve strategic objectives and set new benchmarks. We appreciate Champion Breweries Plc’s confidence in RMB Nigeria throughout this journey.”

The chief executive of RMB Nigeria, Mr Bayo Ajayi, said, “We are proud to have led and advised Champion Breweries through the process of accessing long-term funding from the debt capital markets.

“This transaction demonstrates the depth and sophistication of Nigeria’s debt capital markets. At RMB Nigeria, we remain committed to structuring solutions that meet our clients’ funding needs while contributing to the development of Nigeria’s capital markets. Champion Breweries’ successful issuance sets a strong precedent for future bond issuances from players in the breweries sub-sector.”

By Adedapo Adesanya

The Naira is poised to weaken this week as the US Dollar rallies as investors ignore US-Venezuela tension and instead focused on a slate of US macroeconomic indicators due this week that could be crucial in steering Federal Reserve policy.

The indication of a weaker outcome for the Nigerian currency is seen as the American currency gained against a basket of currencies.

The greenback hit two-week highs against the Yen, Swiss Franc, and Canadian Dollar in the first full trading week of 2026.

The United States at the weekend, raided Venezuela and captured President Nicolas Maduro. US special operations forces seized the Venezuelan President and his wife, Cilia Flores, in a nighttime operation to bring him to the US to face a 2020 narco-terrorism indictment.

As of press time, the Dollar advanced 0.3 per cent to $1.1682 per Euro, after earlier touching its strongest level since December 10 at $1.1672.

It climbed as high as 157.295 on the Yen, 0.7951 on the Swiss Franc, and C$1.37771, all of which were the highest levels since December 22.

The American currency advanced 0.1 per cent to $1.3425 per British Pound, and added 0.3 per cent to $0.6670 versus the Aussie Dollar.

Traders currently expect two US rate cuts this year, according to calculations by LSEG based on futures.

Investors are also awaiting US President Donald Trump’s choice for the next Federal Reserve chair, as Jerome Powell’s term is set to end in May. US President Donald Trump has expressed his displeasure against Mr Powell and will be looking to replace him with a candidate that aligns with his policies.

President Trump has said he will announce his pick this month, and has said Powell’s successor will be “someone who believes in lower interest rates, by a lot.”

Meanwhile, the Naira last Friday closed the first session of 2026 positive against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) as it gained N4.91 or 0.34 per cent to trade at N1,430.85/$1 compared to the previous rate of N1,435.76/$1.

Preliminary outlook shows that the Central Bank of Nigeria (CBN) reforms may help enhance efficiency and transparency in the FX market which will narrow the premium between the NAFEM and unofficial rates, and sustain exchange rate stability. In addition, improved domestic oil refining capacity is expected to reduce foreign exchange demand for fuel imports.