In a move aimed at revitalizing Nigeria’s mining sector, the Federal Government has revoked 924 dormant licences spanning exploration, mining, small-scale mining, and quarrying. The Minister of Solid Minerals Development, Dr. Dele Alake, announced the decision in a statement released yesterday, highlighting the government’s commitment to enforcing the policy of “Use it or Lose it” as outlined in mining guidelines.
According to Dr. Alake, the revocation was executed following a period of adequate notice provided to all concerned parties through the official Gazette of the Federal Republic of Nigeria No 227, published on December 27, 2023. The notice afforded a 30-day window for licence holders to regularize their status and address any issues leading to dormancy. Out of the 963 licence holders notified, only 39 took action, either by commencing operations or providing explanations for operational challenges.
The revoked licences encompass various sectors within the mining industry, including 528 exploration licences, 20 mining leases, 101 quarry licences, and 273 Small Scale Mining Licences (SSML). Dr. Alake emphasized that the decision was made following due process and fair consideration, reflecting the government’s commitment to fostering a dynamic and active mining sector.
Furthermore, the minister underscored that the revocation opens up opportunities for global investors to apply for the affected cadastral units on a “first come, first served” basis. This move aligns with the government’s efforts to attract investment and promote sustainable development in the mining industry.
The decision to revoke dormant licences signifies a proactive approach by the Federal Government to optimize the utilization of mining resources and stimulate economic growth in Nigeria. It signals a renewed focus on enforcing compliance with regulatory frameworks and encouraging responsible mining practices to maximize the sector’s potential for national development.