Minister of Solid Minerals Development, Dr. Dele Alake, says the Federal Government is set to revoke more than 1,000 inactive mining licences nationwide.
He said it is part of efforts to sanitise the licencing system and reposition the mining and steel sector for industrial growth.
This is coming just one year – May 2024- after the government cancelled 924 dormant licences, accusing some holders of using them to facilitate a black market for mining titles.
Those revoked permits included 528 exploration licences, 20 mining leases, 101 quarry licences, and 273 small-scale mining licences.
Speaking at the opening of the maiden National Steel Summit in Abuja on Wednesday, Alake said:
“To clean up our licencing system, I had to revoke over 900 licences which were dormant titles, and they had become tools in the hands of speculators rather than instruments of development.
“I want to state again that very soon, I will be announcing the revocation of over 1,000 licences,” he said.
He emphasised that the solid minerals sector is no longer a haven for opportunists but a key engine for national industrial growth and continental influence.
Alake reaffirmed the government’s commitment to harnessing Nigeria’s mineral wealth to create jobs, strengthen local industries, and drive economic prosperity.
We are laying the foundation for Nigeria where mineral resources create Nigerian jobs, feed Nigerian industries, and build Nigerian prosperity.”
He also described the summit’s theme, “Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness”, as aligned with Nigeria’s economic diversification agenda.
According to Alake, the administration of President Bola Tinubu is determined to position Nigeria as the steel hub of West Africa. This goal will be anchored on local beneficiation, sustainable practices, and private-market partnerships.
He added that Nigeria must transition from exporting raw minerals and importing finished goods to using its mineral wealth to create jobs, develop technology, and drive national prosperity.
The Minister said the Ministry of Solid Minerals Development is aligning its reforms to support the Ministry of Steel Development, recognising that the steel value chain starts with mining.
“Our mineral policies must directly feed into steel production capacity. This mutual dependency must be synergised and tailored to the development priorities of this government,” he said
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said the ministry is working on targeted reforms in industrialisation, manufacturing, and innovation to accelerate economic diversification.
Oduwole explained that this was to ensuring Nigeria`s resources were processed and value-added, therefore creating jobs, building industrial capacity and driving long-term economic resilience
“Through special economic corridors and trade and labor infrastructure, the Federal Ministry of Industry and Investment is focused on creating platforms that will crystalise investment.
“ Integrate our steel industry into global and regional value-added markets and deploy our resources.
“ We are committed to deep, sustained reforms to make Nigeria a competitive destination for steel investment,“ she said.
The Minister of Steel Development, Mr Shuiabu Audu, described the steel sector as the backbone of an industrialised value chain, being an essential base material for construction, automobiles, electronics, shipbuilding, military equipment, and telecommunications.
Audu noted that despite Nigeria’s abundance of steel-making raw materials, the lack of operational integrated steel plants has hindered industrial growth.
He said iron and steel production would not only create jobs but also offer self-sustaining economic growth and diversification.
He explained that the summit aims to assess the current state of the steel industry, explore investment opportunities, identify policy and infrastructure gaps, and develop recommendations.
It is also intended to deepen partnerships, promote knowledge exchange between industry players and policymakers, and build a unified strategy for a sustainable Nigerian steel industry.
