...FG Seeks New Investors in Solid Minerals, as Dormant Mining Licenses is been Revoked.
Emmanuel Oduara
...There were 924 dormant mining licenses, revoked by the government,It invited investors to freely apply for the affected licences which will be offered on a “first come, first served” basis.
The Minister of Solid Minerals Development Dele Alake made this revelation yesterday in Abuja as he decried the racketeering of the issuance of the licences.
Why he spooked with news men, said mining licence racketeering was impeding the development of the sector and obstructing genuine investors from showing interest in Nigeria’s mines. Licences revoked were 528 for exploration; 22 mining leases, 101 quarry licences and 273 small scale mining licences.
The minister explained further that a grace period of 30 days was given to defaulters to rectify their statuses, and to state reasons for dormancy on the sites allocated to them in line with constitutional provisions.
"He said 963 licences were published in the official gazette of the Federal Government in December 2023 awaiting revocation.
"Out of these, only 39 of the listed licence holders responded to the warning as they either moved to the site immediately or they stated challenges hindering their operations, he added.
Alake stated that the revocation of the licences was taken to sanitise and reposition the mining sector to boost Nigeria’s economic profile and accelerate its industrialisation.
"He added that the “first-come, first-served’’ rule in the licencing regime was a disincentive for genuine investors as the rule prohibited issuance of fresh licences on a site already allocated. The ministry revoked 1,663 mining licences in November 2023 because of the failure of licensees to pay statutory charges and other dues to the Federal Government.
HYPE.NEWS
Comments
Post a Comment