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Nigerian Government revokes 924 additional mineral licences over racketeering, dormancy

Dr. Oladele Alake, Honourable Minister for Solid Minerals Development

*Dr. Oladele Alake, Minister for Solid Minerals Development announces the Federal Government of Nigeria has revoked 924 additional mineral licences with immediate effect over issues of mineral licence racketeering and dormancy

Gbenga Kayode | ConsumerConnect

Citing issues of licence racketeering and dormancy, the Federal Government of Nigeria has revoked 924 additional mineral licences with immediate effect.

ConsumerConnect reports Dr. Oladele Alake, Honourable Minister for Solid Minerals Development, who disclosed this at a media briefing Wednesday, April 24, 2024, in Abuja, FCT, said the revoked mineral licences included 528 exploration licences, 20 mining leases, 101 quarry licences, and 273 small-scale mining licences.

Some solid mineral deposits in Nigeria

It is recalled the Nigerian Government, through the Federal Ministry of Solid Minerals Development, November 2023, had revoked 1,663 mineral licences, which was the first batch of licences for revication in the mining sector of the economy.

The Minister equally lamented the high rate of licence racketeering, as well as dormant mineral licences in the industry.

He, however, assured stakeholders of his Ministry’s unrelenting effort at investigating the root cause, and correct the lapses.

The Mining Ministry recently inaugurated the Mining Marshals as a special security squad, in charge of sniffing out activities of illegal miners across the country.

About regulation on reactivation of revoked licences

According to Alake, the Ministry had formulated a policy to enable those whose licences have been revoked, but are still interested in reinstating such licences into the mining ecosystem.

He further noted that such persons must make restitution to the Federal Government through the payment of fines.

The Minister said in regard to mining licences reinstatement, it is N10million for large-scale companies, whereas small-scale mining licences are expected to pay N7.5 million, and exploration licences fixed for N5 million respectively.

The Minister, therefore, gave 30 days for interested parties to come up to the Ministry of Solid Minerals Development through the Mining Cadastral Office, or risk losing their licences.

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