By Ken Afor
In a major move to sanitize Nigeria’s mining sector, the federal government has revoked 924 dormant licenses spanning exploration, mining, small-scale mining, and quarrying operations.
The revocation was announced by the Minister of Solid Minerals Development, Dr Dele Alake, during a press conference on Wednesday, April 24.
He stated that the decision followed due process, with adequate notice given to all concerned parties through the Federal Republic of Nigeria’s official gazette published on December 27, 2023.
“The notice gave all concerned parties 30 days to regularize their status, including clarifications on what caused the license to be dormant.
“Although a total of 963 licensees 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 hindering their operations,” Alake said.
Of the 924 revoked licenses, 528 were for exploration, 20 for mining leases, 101 for quarrying, and 273 for Small Scale Mining Licenses (SSML).
The Minister revealed that owners of the revoked licenses have 30 days to redeem them by paying applicable fines.
“For revoked Mining Licenses, a fine of N10 million applies; N7.5 million for Small Scale Mining License (SSML), while N5 million for Exploration License (EL). They will be required to make the payments within 30 days to qualify for consideration,” Alake stated.
He added: “Investors across the globe are now free 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 licensing system by penalising those who have commercialised the opportunities offered by the sector into a bazaar.”
