According to Nigerian Extractive Industries Transparency Initiative (NEITT) report, the total revenue generated from the solid minerals sector amounted to N33.86 billion in 2013 equivalent to 0.11% of GDP; while in 2014 and 2015 the total revenues were N55.82 billion and N69.2 billion which, are equivalent to 0.33% and 0.55 of GDP respectively. This is a reversal of the historically higher percentage of 5.0% between 1960 -1970 (Ighodalo, 2018). The negligence of the solid minerals sector and total dependence on crude oil has put the Nigerian economy under pressure due to the dwindling prices of crude oil in the international market over the years. The current call for diversification of the economy and the recent determination of the past Government of the Mohammadu Buhari Administration to complete the Ajaoukuta Steel Complex was a right step in the right direction but never saw the light of the day. This paper, therefore, focuses on the prospects and beneficiation of solid minerals deposit in Kebbi State, Nigeria; using iron ore deposit as a case study. The availability of various solid minerals in Kebbi State, if properly harnessed, will boost the Internally Generated Revenue (IGR) of the State; enhance human resource and infrastructural development and will reduce crime in the State due to the activities of the teaming unemployed youths that may culminate in illegal mining banditry, kidnapping and other social vices.