The Nigerian Government has revoked 924 dormant mining licenses due to non-compliance with mining policies.
The revoked licenses include exploration, mining, quarry, and small-scale mining licenses.
The Minister of Solid Minerals Development, Dr. Dele Alake, stated that the revocation follows due process and is part of the “Use it or Lose it” policy.
Affected licensees can make restitution by paying fines ranging from N5 million to N10 million within 30 days.
The government aims to sanitize the licensing system, encourage serious investors, and create jobs for youths while warning against license racketeering and speculation.
Here is Dr Dele Alake, Nigeria’s minister of solid minerals development: