The federal government has revoked 924 dormant licences across four sectors in the mining industry.
Minister of Solid Minerals Developments, Dele Alake who made the announcement at a press conference on Wednesday, April 24, said the areas affected include exploration, mining, small-scale mining, and quarrying.
Alake told journalists that adequate notice was given to all concerned parties through the official Gazette of the Federal Republic of Nigeria, No. 227, published on December 27, 2023.
924 dormant licences were revoked, comprising 528 exploration licences; 20 mining leases, 101 quarry licences, and 273 small-scale mining licences (SSML).
He said;
“The notice gave all concerned parties 30 days to regularise their status, including clarifications on what caused the license to be dormant.
“Thus, 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.”
The Minister who revealed that the move would sanitise the licencing system by penalising those who have “commercialised the opportunities offered by the sector into a bazaar”, added that investors across the globe are now free to apply for any of the “affected cadastral units on the basis of first come, first served”.
The affected licensees have been directed to make restitution, as fines have been imposed for different categories of revoked licences. This also applies to the 1,633 titles revoked last year for default in payment of annual service fees.
Alake said;
“For revoked mining licences, a fine of N10m applies; N7.5m for small scale mining license (SSML) while N5m for exploration license (EL).They will be required to make the payments within 30 days to qualify for consideration.”
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