Government Takes Action to Regulate Mining Sector
The Honourable Minister of Solid Minerals Development of Nigeria, Mr Dele Alake, has formally announced the revocation of 1,633 mining licences during the launch and public presentation of the book entitled: “The Beauties of Nigeria” in Abuja. This measure is part of the government’s concerted efforts to reduce illegal activities within the mining sector in Nigeria.
At the event, which was graced by Arabinrin Aderonke Ogunleye-Bello representing the Minister, Alake underscored the ministry’s unwavering commitment to the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration. He declared, “We have significantly reduced the incidence of illegal activities in the solid minerals sector. Out of 2213 mining title holders, 1633 defaulting titles have been revoked, while 580 law-abiding holders have had their licenses reinstated, as part of the government’s drive for stricter adherence to regulations within the sector.”
In addition to the revocation of licenses, the ministry has successfully attracted foreign investors from countries such as China, Mexico, the USA, and the United Kingdom. Notably, this has led to the establishment of a lithium battery production factory, with China commencing operations in Nasarawa state. The ministry anticipates that other ventures of a similar nature will follow suit.
Alake emphasized the pivotal role of the mining industry in Nigeria’s economic diversification strategy, stating, “The mining industry holds enormous potential to enhance socioeconomic conditions within our communities, bolster Nigeria’s GDP, create employment opportunities, advance technology, and reduce the nation’s overreliance on oil.” He further highlighted the ministry’s dedication to fostering sustainable growth and development within the sector.
The Minister expressed gratitude to Mr. Bonaventure Melah, author of “The Beauties of Nigeria,” commending the work for its positive portrayal of Nigeria’s potential and urging all Nigerians to collaborate with the government in achieving the nation’s collective aspirations.
In conclusion, the government’s decision to revoke mining licenses and attract foreign investment demonstrates its commitment to effectively regulate the mining sector, thereby stimulating economic growth and fostering opportunities for sustainable development in Nigeria. For comprehensive coverage of Nigerian and global news, business, technology, and sports, we encourage you to stay informed with the Guardian.
