Revoking Mining Licenses for a Cleaner Sector – A Step towards Economic Growth

The recent decision taken by the Minister of Solid Minerals, Dr Oladele Alake, to revoke 1,633 mining licences is a significant step towards the reformation and regulation of the sector in accordance with President Bola Tinubu’s Renewed Hope Agenda. As stated by the Minister of Information and National Orientation, Alhaji Mohammed Idris, this move is aimed at controlling and structuring the mining industry for the betterment of the national economy, contrary to the belief that it will lead to unemployment and business closures.

Idris has clarified that the revocation of mining licences is not intended to dismantle existing businesses, but rather to encourage miners to come together and form cooperative societies in order to obtain their licences. The government’s goal is to support those who have a positive impact on the solid mineral subsector and enhance its growth, as President Bola Tinubu is dedicated to developing this sector under regulated conditions.

The Minister has emphasised the necessity of regulations for the expansion of the mining industry and refuted the idea that individuals are being singled out or forced out of business. He has further emphasised the importance of miners aligning their activities with the government’s vision for developing this critical sector for the benefit of the nation.

Dr Oladele Alake, the Minister of Solid Minerals, has expressed confidence in Alhaji Mohammed Idris’s ability to promote the solid mineral sector and attract investors. He has praised Idris’s leadership qualities and philosophy, expressing optimism in the government’s ability to achieve its objectives under his guidance.

It is evident that the revocation of mining licences is not aimed at eliminating businesses, but rather at encouraging organisation and regulation within the mining sector. Under the leadership of President Bola Tinubu, the government is committed to supporting those who have a positive impact on the industry. This will not only enhance the sector but also attract investors, thereby contributing to the overall economic growth and development of the nation.