By Ikugbadi Oluwasegun

The Ministry of Solid Minerals have revoked 924 dormant licenses spanning exploration, mining, small-scale mining, and quarrying licenses, In our efforts to sanitize the mining sector.

This was disclosed on Wednesday by Dele Alake, Minster of Solid Minerals, he said, “Adequate notice was given through the official Gazette of the Federal Republic of Nigeria. Out of the 963 licensees notified, 39 took action to regularize their status.

“The revoked licenses include 528 exploration licenses, 20 mining leases, 101 quarry licenses, and 273 Small Scale Mining Licenses (SSML). This decision follows due process and fair consideration, reflecting the commitment of the Federal Government to the “Use it or Lose it” policy.

“Interested investors worldwide can now apply for the affected Cadastral Units on a “first come, first served” basis. I believe this move will help clean up the licensing system and deter those who misuse opportunities in the sector. Going forward, the Federal Government will crack down on license racketeering and speculative practices, while encouraging serious investors so as to create job opportunities in the country.”