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FG revokes 924 Minaral licences

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By Victoria Onehi

The Federal Government through the Ministry of Solid Minerals Development has revoked 924 mineral licences.

The Minister of Solid Minerals Development Dr Dele Alake, who disclosed this at a news conference in Abuja on Wednesday said his office in November last year, warned licencees who were yet to resume work on their mining projects to do so immediately or get their licences revoked.

He said: ” In line with constitutional provisions, we ensured that adequate notice was given to the concerned parties through the official gazette of the Federal Republic of Nigeria no 227 which was published on December 27, 2023. This notice gave all concerned parties 30 days to regularise their status including clarifications on what caused the licence to be dormant.

“Thus, although a total of 963 licencees were published and notified of the threat of revocation, no fewer than 39 either moved to site immediately or convinced the authorities of the challenges which hindered their operations. 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 licences with immediate effect.” 

Alake said  528 exploration licences, 20 mining leases, 101 quarry licences and 273 small scale mining licences were revoked. 

The Ministers called on investors across the globe to apply for any of the affected cadastral units on the basis of “first come, first served”. 

“It is our belief that this decision will sanitise the licencing system by penalising those who have commercialised the opportunities offered by the sector into a bazzar. The good lesson from this exercise is for investors to do their homework and be ready to flag off their projects as soon as they obtain licences.”Alake said.

 The Minister said Nigeria is open for business and shall encourage smart, serious and adventurous investors to set up and give jobs to our teeming youths.

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