– Minister Dele Alake has approved transferring N2.5 billion mining support fund to SMDF after meeting with Stakeholders to review mining license rates in Nigeria.
– The aim of the rate review is to align the sector with current market realities and manage Nigeria’s mineral resources effectively.
– Ongoing discussions with state governors and NGF to address interference in licensed mining operations and duplication of federal regulations.
– Revised license rates aim to help government recover investments and deter speculators holding mining titles without active operations.
– The move highlights the importance of effective management of Nigeria’s mineral resources and supports the growth and development of the mining sector.
