FG Revokes 1,263 Mineral Licenses Over Unpaid Fees

The Federal Government of Nigeria has revoked 1,263 mineral licenses due to unpaid annual service fees. The licenses, including exploration, mining, and quarry licenses, were deleted from the Electronic Mining Cadastral System.

This action is expected to encourage new applications from investors seeking opportunities in the mining sector. The revocation was approved following recommendations from the Nigerian Mining Cadastral Office to deter speculators and attract serious investors.

The Minister of Solid Minerals Development emphasized the importance of enforcing laws to ensure that only committed and capable investors participate in the sector. The move aims to improve the mining industry by promoting responsible investment practices and deterring inactive license holders.