The Federal Government, through the Ministry of Solid Minerals Development, has revoked 923 dormant licenses in a move to clean up the sector and boost international competitiveness.
Minister Dele Alake announced the decision today, specifying the revoked licenses include 528 exploration licenses, 20 mining leases, 101 quarry licenses and 273 small-scale mining licenses.
This comes after a similar action last November, where the Ministry revoked 1,633 licenses held by non-compliant mining companies.
Minister Alake emphasized the government’s commitment to fair play, stating, “In view of the above, which shows our adherence with due process and fair consideration and in line with the standard policy of use it or lose it, I hereby revoke the 924 dormant licenses with immediate effect.”
The Minister urged stakeholders who have previously operated outside regulations to become “positive active” participants in the reformed sector.
This move suggests a stricter approach by the government to ensure responsible utilization of Nigeria’s mineral resources and attract foreign investment.
