The Nigerian government has canceled 924 inactive mining licenses and is actively seeking new investors.
The Nigerian government has disclosed the revocation of 924 licenses belonging to dormant miners, covering exploration, mining, small-scale mining, and quarrying. Minister of Solid Minerals Development, Mr. Dele Alake, made the announcement in Abuja, emphasizing the government’s commitment to cleansing the mining sector.
Alake highlighted that adequate notice was provided to the affected miners via the official Gazette of the Federal Republic of Nigeria, No. 227, published on December 27, 2023, in compliance with constitutional provisions. Despite this, only 39 licensees took immediate action or presented challenges impeding their operations.
Out of the 924 dormant licenses revoked, 528 were for exploration, 20 for mining leases, 101 for quarrying, and 273 Small Scale Mining Licenses (SSML). License owners have a 30-day window to redeem them by paying fines: N10 million for revoked Mining Licenses, N7.5 million for SSML, and N5 million for Exploration License (EL).
The minister emphasized that investors worldwide are now free to apply for any affected Cadastral Units on a ‘first come, first served’ basis. This move aims to streamline the licensing system, penalizing those who exploited sector opportunities for personal gain.
