The Ministry of Solid Minerals Development, representing the Federal Government, has taken decisive action by revoking 1,633 mineral titles previously issued to non-compliant mining companies. In a press briefing on Tuesday in Abuja, the Minister of Solid Minerals Development, Dele Alake, conveyed the government’s commitment to cleansing the solid minerals sector for enhanced international competitiveness.
The revocation of licenses stems from the failure of mining companies to meet the mandatory annual service fees of N1,500 per cadastral unit. Minister Alake emphasized that the move, in compliance with Sections 10, 11, and 12 of the Mining Act, serves to create opportunities for potential investors willing to contribute to the sector’s growth.
During the briefing, Minister Alake expressed dissatisfaction with mining firms that, despite profiting substantially from mining activities over the years, neglected to fulfill their financial obligations to the government. He stated, “It 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.”
This initiative aligns with the government’s broader strategy to enforce compliance, promote transparency, and attract responsible investments in the solid minerals sector. Minister Alake urged all stakeholders in the sector to rectify any wrongdoing and collaborate in the revitalization efforts for the benefit of the industry and the nation.
