AS PART OF ONGOING EFFORTS TO SANITISE THE SOLID MINERALS SECTOR AND PROTECT INVESTORS FROM FRAUDSTERS, THE FEDERAL GOVERNMENT HAS ANNOUNCED THE CLEAN-UP EXERCISE OF THE SECTOR BY REVOKING MINING LICENSES.
THE DIRECTOR-GENERAL OF THE MINING CADASTRE OFFICE, OBADIAH NKOM, MADE THE DISCLOSURE DURING A LIVE CONVERSATION ON X, THEMED “A DEEP DIVE INTO THE MINING CADASTRE OFFICE: DRIVING TRANSPARENCY AND ORDER IN NIGERIA’S SOLID MINERALS SECTOR.”
NKOM SAID THE AGENCY HAD IDENTIFIED ABOUT 4,709 LICENCES, INCLUDING 1,400 EXPIRED TITLES, 2,338 REFUSED APPLICATIONS AND 971 NOTIFICATIONS OF GRANT WHERE APPLICANTS FAILED TO PAY, LEADING TO AN OUTRIGHT REVOCATION BY THE MINISTER OF SOLID MINERALS DEVELOPMENT, DELE ALAKE.
DISMISSING RUMOR THAT THE EXERCISE WAS PUNITIVE, THE DG NOTED THAT REVOCATION ORDER WAS A DELIBERATE SANITISATION PROCESS TO WEED OUT SPECULATORS WHO HOARD LICENSES WITHOUT ADDING VALUE TO THE ECONOMY.
