Abuja, Nigeria – The Federal Government of Nigeria, through the Ministry of Solid Minerals Development, is set to revoke another 1,000 dormant mining licenses in a bid to sanitize the solid minerals sector and curb speculative activities. This was announced by the Minister of Solid Minerals Development, Dr. Dele Alake, at the inaugural National Steel Summit in Abuja.
The move is a continuation of the government’s “use it or lose it” policy, which aims to ensure that Nigeria’s vast mineral resources are actively exploited for the benefit of the nation. The minister stated that these licenses have become “tools in the hands of speculators” rather than instruments for national development.
This latest action follows the revocation of 924 inactive mining licenses in 2024. The previous revocation was a major step by the government to cleanse the sector of license racketeering and create a more transparent and efficient system for genuine investors. The revoked licenses in 2024 included a mix of exploration licenses, mining leases, quarry licenses, and small-scale mining licenses.
The Federal Government’s consistent actions demonstrate a firm commitment to repositioning the solid minerals sector as a key driver of economic diversification and industrial growth. The minister emphasized that the sector is no longer a playground for opportunists but a critical component for creating jobs, feeding local industries, and building national prosperity.
Nigerian Mineral Exchange, the premier Nigerian mining marketplace, encourages its members and followers to take immediate steps to prevent their licenses from being revoked.
The government’s crackdown on dormant licenses signals a new era of opportunity for genuine prospectors and investors. With the solid minerals sector now focused on active, value-adding operations, the landscape is ripe for those ready to seize the moment. Gold, for instance, is being discovered almost daily in new areas of the country, from places previously unknown to be gold-bearing. If you are a landowner, an aspiring investor, or a prospector in Nigeria, this new gold rush presents an unprecedented opportunity. To learn the practical steps to finding, extracting, and profiting from these deposits, get your copy of our essential ebook, “Finding Gold in Nigeria: A Practical Guide for Landowners, Investors, and Prospectors.” It is your definitive guide to turning soil into treasure.
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