FG Revokes 1,263 Mineral Licences to Clean Up Nigeria's Mining Sector

The Federal Government has revoked 1,263 mineral licenses across Nigeria due to non-payment of fees, aiming to clean up the mining sector and deter speculators. The Minister of Solid Minerals Development, Dele Alake, approved the revocation following the Nigerian Mining Cadastre Office's recommendation.

The move targets dormant licenses, including 584 Exploration Licenses, 65 Mining Leases, 144 Quarry Licenses, and 470 Small-Scale Mining Licenses. Alake emphasized the importance of paying annual service fees to demonstrate commitment to mining operations and discourage hoarding of licenses by speculators.

The list of defaulters has been handed over to the Economic and Financial Crimes Commission for further action.