Nigerian Government Takes Action Against Dormant Mining Licences
The recent announcement made by the Federal Government of Nigeria regarding the revocation of 924 dormant mining licenses in the country has garnered significant attention. This decision, conveyed by the Minister of Solid Minerals Development, Dele Alake, during a press briefing in Abuja, reflects the government’s commitment to addressing issues of license racketeering and promoting transparency in the mining sector.
Minister Alake disclosed that the revocation encompassed 528 exploration licenses, 22 mining leases, 101 quarry licenses, and 273 small-scale mining licenses. The government accorded a 30-day grace period for defaulting license holders to rectify their statuses and substantiate the dormancy of their mining sites in accordance with constitutional provisions. Regrettably, only 39 license holders responded to the warnings, either by activating operations or providing explanations for the challenges hindering their activities.
The primary objective behind the revocation of these licenses is to cleanse and reposition the mining sector, thereby enhancing Nigeria’s economic profile and accelerating industrialization. This aligns with the government’s dedication to ensuring transparency, accountability, and active participation by legitimate stakeholders in the mining industry.
Furthermore, this decision follows the previous revocation of 1,663 mining licenses in November of the previous year, owing to non-payment of statutory charges and other dues by the license holders. These measures form part of the government’s broader efforts to streamline the mining sector and uphold standards of compliance and operational integrity.
It is imperative for stakeholders and industry players to adhere to regulatory guidelines and fulfill their obligations to avoid potential revocation of their licenses. By doing so, they contribute to the overall development and sustainability of the mining sector in Nigeria.
As the government continues to address regulatory challenges and promote a conducive environment for investment in the mining industry, it is essential for all stakeholders to collaborate and uphold the highest standards of operational and ethical conduct.
In conclusion, the revocation of dormant mining licenses by the Nigerian government represents a significant step towards promoting transparency, accountability, and sustainable growth in the mining sector. This aligns with the broader objectives of driving economic development and industrialization in the country. It is imperative for all stakeholders to support these initiatives and work together towards the common goal of advancing the mining industry in Nigeria.
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