The Nigerian Government has revoked one thousand six hundred and thirty three operating mineral titles for failure to pay annual service charge.
Minister of Solid Minerals, Dele Alake, announced the revocation at a news conference in Abuja.
The Bola Tinubu administration recently rolled out a seven-point point agenda to reposition the Solid minerals sector for international competitiveness.
Part of its resolve is not to bend the rules but be fair to all, while carrying every stakeholder along.
This news conference speaks to some policy decisions of the government at this time.
To achieve set goals, Minister of Solid Minerals, Dele Alake, says government is committed to adhering to the rules guiding the sector’s operations.
He says necessary sanctions shall be applied at all times in cases where violations and non compliance are recorded to serve as deterrent to others.
The Mining Cadastral Office is the government agency in charge of administration of titles.
In line with the provisions of Nigeria’s Mineral Act, the agency recently flagged 2,213 titles for defaulting in service charge payment and appropriately issued a notice to that effect.
Of the 2213 titles, only 580 acted promptly.
The period of grace having expired, the Minister says government is left with no choice than to withdraw the 1633 licenses for those ready to put them into good use.
The Government warns it will not tolerate the return of the revoked titles to site.
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