Dr. Dele Alake, Minister of Solid Minerals Development, has announced that the Federal Government plans to revoke over 1,000 more dormant mining licenses. This action is part of a larger government initiative to clean up the licensing system and boost industrial growth in Nigeria’s mining and steel sectors.
Why the Licenses are Being Revoked
The government is taking this step to stop license holders from simply speculating on mining titles without actually developing them. Dr. Alake stated that the solid minerals sector is no longer a place for “opportunists” but is instead a key driver of national development.
This new wave of revocations follows a similar action in May 2024, when the government canceled 924 inactive mining licenses. The previous revocations targeted various types of permits, including those for exploration, mining, and quarrying.
Repositioning the Mining and Steel Sector
During the first-ever National Steel Summit, Dr. Alake emphasized the government’s vision to use Nigeria’s vast mineral resources to create jobs, support local industries, and grow the economy. He noted that the government’s goal is to make Nigeria the leading steel hub in West Africa by focusing on local processing, sustainable practices, and private partnerships.
He stressed the importance of moving away from simply exporting raw minerals and instead using them to create finished goods, which will generate jobs and drive national prosperity. The government plans to align its mineral policies directly with steel production to support this goal.
Mr. Shuiabu Audu, Minister of Steel Development, also highlighted the critical role of the steel sector as the “backbone of an industrialised value chain.” He noted that despite Nigeria’s abundance of raw materials, the lack of operational steel plants has held back industrial growth, a problem the government is now determined to solve.
