Federal Government Revokes 924 Dormant Mineral Licences, Introduces Fines for Reinstatement

In a significant move aimed at reforming Nigeria’s mining sector, the Federal Government has revoked an additional 924 dormant mineral licences.

These licences span various categories, including exploration, mining leases, quarry, and small-scale mining licences.

The announcement was made by the Minister of Solid Minerals Development, Dele Alake, during a press briefing held in Abuja on Wednesday.

This latest revocation comes on the heels of a similar action taken in November 2023, where the ministry had revoked 1,663 mineral licences.

Minister Alake expressed concern over the rampant licence racketeering and the alarming number of dormant licences that have not been utilized for mining activities.

To address the situation, the ministry has introduced a policy allowing interested parties to reinstate their revoked licences.

However, there’s a catch those looking to reinstate their licences must make restitution to the Federal Government by paying fines.

Large-scale Companies: A fine of N10 million

Small-scale Mining Licences: A fine of N7.5 million

Exploration Licences: A fine of N5 million

Minister Alake has given a 30-day window for interested parties to approach the ministry through the mining cadastral office for licence reinstatement.

Those who fail to do so within the stipulated time risk losing their licences permanently.

In a bid to clamp down on illegal mining activities across the country, the Ministry of Solid Minerals Development has put together a special security squad.

This squad will be tasked with detecting and addressing illegal mining operations nationwide.

The need for such stringent measures was highlighted recently when the ministry suspended all mining activities within the premises of Obafemi Awolowo University (OAU).

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