Nigeria revokes 1,263 mineral licenses over unpaid fees to reform mining, attract credible investors, and boost economic growth.
In a bold move to reform and sanitize Nigeria’s mining industry, the Federal Government has revoked 1,263 mineral licenses across the country due to non-payment of annual service fees. The action reflects the government’s renewed focus on transparency, accountability, and compliance in the nation’s solid minerals sector.
According to official reports, the revoked licenses include 584 exploration licenses, 65 mining leases, 144 quarry licenses, and 470 small-scale mining leases. The decision was approved after a recommendation from the Mining Cadastre Office (MCO)—the agency responsible for managing mineral titles nationwide.
Dele Alake, the Minister of Solid Minerals Development, explained that the government is determined to apply existing laws strictly to discourage speculation and eliminate unserious operators. He stressed that the revocation will pave the way for credible investors and boost the sector’s overall growth.
“We must ensure that only genuine and financially capable investors participate in Nigeria’s solid minerals industry. By enforcing the law, we are protecting our natural resources and building an attractive investment climate,” Alake said.
This latest revocation brings the total number of mineral titles withdrawn under the current administration to 3,794. Out of this figure, 619 mineral titles were revoked for defaulting in annual service fee payments, while 912 licenses were revoked for dormancy last year. This trend signals a stronger regulatory environment designed to revive the mining industry and improve revenue generation.
Industry analysts say the move is a wake-up call to license holders, urging them to comply with the payment and operational requirements of their permits. They also note that increased enforcement could help the government curb illegal mining activities, boost employment, and encourage the inflow of foreign investment.
The Nigerian mining sector is widely regarded as a key driver of economic diversification. With vast deposits of gold, limestone, coal, iron ore, and other solid minerals, Nigeria has the potential to rival major mining nations if properly managed. However, decades of underinvestment, poor regulation, and speculative licensing have slowed growth in the industry.
By revoking dormant or non-compliant licenses, the Federal Government aims to clean up the licensing regime and channel resources toward investors who are ready to develop the sector responsibly. This move is also expected to increase government revenue, improve local content participation, and attract partnerships with global mining companies.
Observers believe that, if sustained, these reforms could transform Nigeria’s mining sector into a robust contributor to GDP and help reduce the country’s over-dependence on oil revenues.