{"id":2681,"date":"2026-08-03T19:35:30","date_gmt":"2026-08-03T19:35:30","guid":{"rendered":"https:\/\/consumerconnectng.com\/?p=2681"},"modified":"2026-08-03T20:47:54","modified_gmt":"2026-08-03T20:47:54","slug":"nigerias-mining-licence-revocations-a-regulatory-affair-without-bias-minister","status":"publish","type":"post","link":"https:\/\/consumerconnectng.com\/?p=2681","title":{"rendered":"Nigeria&#8217;s mining licence revocations a regulatory affair without bias &#8211;Minister"},"content":{"rendered":"<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">&nbsp;<\/span><span style=\"font-size: 12pt; font-family: Georgia, serif;\">*<b><i>The Nigerian Government dismisses alleged bias, insisting the revocation <\/i><\/b><\/span><b><i><span style=\"font-family: 'Georgia',serif;\">of Basin<\/span><\/i><\/b><b><i><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\"> Mining Limited\u2019s licences was due to the company&#8217;s apparent failure to pay statutory annual service, totalling N1,223,750,000 on mineral titles, stating the Minister&#8217;s Seven-Point Agenda has introduced reforms aimed at promoting local value addition while strengthening enforcement of mining regulations in the ecosystem<\/span><\/i><\/b><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Gbenga Kayode | ConsumerConnect <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Nigeria&#8217;s Federal Ministry of Solid Minerals Development (MSMD) has rejected certain allegations that the Federal Government is handing the West African country&#8217;s mineral wealth to Chinese interests.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\"><em>ConsumerConnect<\/em> reports the government emphasised that the revocation of Basin Mining Limited\u2019s mining licences was based solely on the company\u2019s failure to meet its extant statutory obligations in the mining industry.<\/span><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"uXVoYf7Oi1\"><p><a href=\"https:\/\/consumerconnectng.com\/?p=2718\">Accountability: Senate summons CBN, NNPCL, NDDC, others over audit queries within 72 hours<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cAccountability: Senate summons CBN, NNPCL, NDDC, others over audit queries within 72 hours\u201d \u2014 Consumer Experience Is A Top Priority\" src=\"https:\/\/consumerconnectng.com\/?p=2718&amp;embed=true#?secret=jH8t2G39XB#?secret=uXVoYf7Oi1\" data-secret=\"uXVoYf7Oi1\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Responding to allegations made by Steve Kefas, Mr. Kehinde Bamigbetan, Special Adviser to the Minister for Solid Minerals Development on Media, stated that Basin Mining Limited\u2019s licences were revoked after the company failed to pay statutory annual service fees amounting to N1,223,750,000 on Mineral Title Numbers 45454ML, 45117ML, 45118ML, 40532ML and 40533ML in 2024.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Bamigbetan said the outstanding liability had increased to N2,494,000,000 by the time the licences were eventually revoked.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">The Minister&#8217;s media aide also alleged that Jupiter, which he described as a British-Australian firm \u201calien to the transaction\u201d, subsequently sued the Federal Government at an international arbitration court over a purported violation of a bilateral treaty between Nigeria and the United Kingdom (UK). <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">The Ministry also explained that rather than allow the Nigerian legal process to run its course, Jupiter engaged propagandists, including Kefas, to mount a campaign against Dr. Dele Alake, Minister for Solid Minerals Development, in an attempt to secure a reversal of the licence revocation.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Bamigbetan reportedly dismissed claims that Minister Alake was favouring Chinese investors over their Western counterparts.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">According to him, the Minister travelled to China only twice on official assignments since assuming office\u2014first as part of President Bola Ahmed Tinubu\u2019s state visit and later at the invitation of the Chinese government to attend China Mining Week 2025.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">He further stated that Dr. Alake had attended more mining investment conferences in Western countries, including the London Mines and Money Conference, Mining Indaba in Cape Town, South Africa, and Africa DownUnder, held in Australia.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><b><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Foreign investments and policy on solid minerals<\/span><\/b><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Bamigbetan explained that Nigeria\u2019s policy of opening the solid minerals sector to foreign investment predates the current administration.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">The media aide as well traced this approach to the investment liberalisation reforms of 1995.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">The regulation established the Nigerian Investment Promotion Commission (NIPC), and allowed foreign participation in most sectors of the Nigerian economy. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><b><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">On Minister\u2019s Seven-Point Agenda for industry <\/span><\/b><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Referencing the Minister\u2019s Seven-Point Agenda, Bamigbetan also stressed the initiative had identified gaps in the implementation of the liberalisation policy.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">It further introduced reforms aimed at promoting local value addition while strengthening enforcement of mining regulations.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">He noted that several Chinese companies responded to the government\u2019s policy by establishing mineral processing factories in Nigeria.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">He, however, alleged that Basin Mining \u201csat on the opportunity until it expired.\u201d<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><b><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Local, foreign okays must obey Nigeria&#8217;s mining regulations <\/span><\/b><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Bamigbetan stated that over 300 companies from Europe, America, Canada and Australia are active in Nigeria\u2019s solid minerals sector as a multinational industry.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">The media aide said the Ministry has continued to engage Western investors through international mining conferences and investment forums.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">According to him, all local and foreign investors operating, or still seeking to operate in Nigeria must comply with the country&#8217;s mining laws.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">The government maintained that the revocation of Basin Mining Limited\u2019s licences was based on regulatory enforcement rather than the nationality of any investor. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><b><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Revocation of 1,633 <\/span><\/b><b><span style=\"font-family: 'Georgia',serif;\">operating <\/span><\/b><b><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">licences <\/span><\/b><b><span style=\"font-family: 'Georgia',serif;\">of mining<\/span><\/b><b> <\/b><b><span style=\"font-family: 'Georgia',serif;\">firms<\/span><\/b><b><\/b><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">It is recalled the Federal Government, few years ago, revoked the operating licence of 1,633 mining title holders, for failure to pay annual service due to the government\u2019s coffer.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Alake,<\/span> <span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Honourable Minister for Solid Minerals Development, had disclosed this development during a press conference, in Abuja, FCT.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">The Minister had explained that the move was aimed at sanitising the sector, and freeing up space for new investors who will live up to expectations in this regard.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">He stated the holders of exploration titles are expected to pay N1,500 per cadastral unit not exceeding 200 units, while those holding titles covering more than 200 units pay N2,000 per unit.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Alake equally decried the failure of companies to pay up as and when due.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">He stated: \u201cIt is, indeed, very unconscionable for corporate bodies making huge profits from mining to refuse to give the government its due by failing to pay their annual service fee.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">\u201cIt is indeed a reasonable conjecture that such a company will even be more unwilling to pay royalties and honour its tax obligations to the government. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">&#8220;The amount the companies are being asked to pay is peanut compared to their revenue projections.\u201d<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Alake said that in compliance with the Nigerian Minerals and Mining Act 2007, the Mining Cadastre Office on October 4, 2023, began the process of revoking 2,213 titles, including 795 exploration titles, 956 small-scale mining licences, 364 quarry licences and 98 mining leases.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">The government later published in the Federal Government Gazette Number 178, Volume 110 of October 10, 2023, with the notice of revocation for defaulting in the payment of the annual service fee.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">Alake also explained: \u201cThe mandatory 30 days expired on November 10, 2023. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">&#8220;Only 580 titleholders responded by settling their indebtedness. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">&#8220;With this development, the MCO recommended the revocation of 1, 633 mineral titles including exploration licence, 536; quarry licence, 279; small-scale mining licence, 787 and mining lease, 31.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">The Minister declared: \u201cIn line with the powers conferred on me by the NMMA 2007, Section 5 (a), I have approved the revocation of the 1,633 titles. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">&#8220;I hereby warn the previous holders of these titles to leave the relevant cadaster with immediate effect as security agencies shall work with the mines inspectorate of the Ministry to apprehend any defaulter found on any of the areas where titles have been revoked.&#8221; <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">He as well explained that the philosophy of the Nigerian Minerals and Mining Act 2007 is to establish a rational system of administering titles transparently, and comprehensively to ensure a seamless transition from reconnaissance to exploration, and from exploration to mineral extraction.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">He also warned all illegal miners to deviate from the Act or face the wrath of the law in Nigeria.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">&nbsp;<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">&nbsp;<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-family: 'Georgia',serif;\">&nbsp;<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin-bottom: 0cm; text-align: justify; line-height: normal;\"><span style=\"font-size: 12.0pt; font-family: 'Georgia',serif;\">&nbsp;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp;*The Nigerian Government dismisses alleged bias, insisting the revocation of Basin Mining Limited\u2019s licences was due to the company&#8217;s apparent failure to pay statutory annual&hellip;<\/p>\n","protected":false},"author":2,"featured_media":2282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"_FSMCFIC_featured_image_caption":"Dr. Dele Alake, Honourable Minister for Solid Minerals Development","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","_customify_content_layout":"","_customify_sidebar":"","_customify_page_header_display":"default","_customify_disable_header":"","_customify_disable_header_top":"","_customify_disable_header_main":"","_customify_disable_header_bottom":"","_customify_disable_page_title":"","_customify_disable_content_vertical_padding":"","_customify_disable_footer_top":"","_customify_disable_footer_main":"","_customify_disable_footer_bottom":"","_customify_breadcrumb_display":"","_customify_header_transparent_display":"default","footnotes":""},"categories":[20,4,8],"tags":[],"class_list":["post-2681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-highlights","category-markets","category-regulators"],"featured_image_urls":{"full":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dele-Alake-NW-1cc.png",672,360,false],"thumbnail":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dele-Alake-NW-1cc-150x150.png",150,150,true],"medium":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dele-Alake-NW-1cc-300x161.png",300,161,true],"medium_large":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dele-Alake-NW-1cc.png",672,360,false],"large":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dele-Alake-NW-1cc.png",672,360,false],"1536x1536":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dele-Alake-NW-1cc.png",672,360,false],"2048x2048":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dele-Alake-NW-1cc.png",672,360,false]},"author_info":{"info":["ConsumerConnect"]},"category_info":"<a href=\"https:\/\/consumerconnectng.com\/?cat=20\" rel=\"category\">Highlights<\/a> <a href=\"https:\/\/consumerconnectng.com\/?cat=4\" rel=\"category\">Markets<\/a> <a href=\"https:\/\/consumerconnectng.com\/?cat=8\" rel=\"category\">Regulators<\/a>","tag_info":"Regulators","comment_count":"0","_links":{"self":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/2681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2681"}],"version-history":[{"count":2,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/2681\/revisions"}],"predecessor-version":[{"id":2734,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/2681\/revisions\/2734"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/media\/2282"}],"wp:attachment":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}