The Federal Government plans to revoke 1,000 dormant mining licences, in addition to the 900 already cancelled in 2024, as part of efforts to sanitise Nigeria’s solid minerals sector.
Minister of Solid Minerals Development, Dr. Dele Alake, disclosed this on Wednesday at the opening of the maiden National Steel Summit in Abuja.
“To clean up our licencing system, I revoked over 900 dormant titles that had become tools for speculators rather than instruments of development.
“Soon, I will announce the revocation of another 1,000 licences,” Alake said.
He stressed that the solid minerals sector would no longer serve opportunists but would drive industrial growth and continental leadership.
According to him, the government is committed to ensuring mineral resources create jobs, feed local industries, and foster national prosperity.
Alake described the summit’s theme, “Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness,” as aligning with President Bola Tinubu’s economic diversification agenda, which aims to position Nigeria as West Africa’s steel hub through local beneficiation, sustainable practices, and private-sector partnerships.
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said her ministry was driving industrialisation through targeted reforms, special economic corridors, and infrastructure development to integrate Nigeria’s steel industry into global markets.
Minister of Steel Development, Mr. Shuaibu Audu, highlighted the sector’s role as the backbone of industrialisation, supplying essential materials for construction, manufacturing, defence, and technology.
He said the summit would review the industry’s status, explore investment opportunities, address policy gaps, and strengthen partnerships for a sustainable steel sector.
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