Nigerian Government To Revoke 1,000 Dormant Mining Licences In Major Sector Reform.
The Nigerian Federal Government has unveiled plans to revoke an additional 1,000 dormant mining licences as part of its ongoing efforts to overhaul the solid minerals sector, the Minister of Solid Minerals Development, Dr Dele Alake, announced on Wednesday, 13 August 2025, at the inaugural National Steel Summit in Abuja. This follows the cancellation of 900 inactive licences in 2024, marking a significant step towards sanitising the industry and boosting economic growth.
Speaking at the summit, themed “Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness,” Dr Alake stressed that the revocations aim to eliminate speculative practices that have hindered the sector’s development. “To clean up our licensing system, I revoked over 900 dormant titles that had become tools in the hands of speculators rather than instruments of development,” he said. “Very shortly, I will announce the revocation of another 1,000 licences. The solid minerals sector is no longer a playground for opportunists but a driver of national industrial growth.”
The minister highlighted the government’s vision to transform Nigeria into West Africa’s steel hub by leveraging its abundant mineral resources. He noted that the reforms align with President Bola Tinubu’s economic diversification agenda, focusing on local beneficiation, sustainable practices, and private-sector partnerships. The Ministry of Solid Minerals Development is working closely with the Ministry of Steel Development to ensure mineral policies support steel production, fostering job creation and technological advancement.
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, echoed Alake’s sentiments, stating that targeted reforms are underway to enhance industrialisation and integrate Nigeria’s steel industry into global markets. Meanwhile, the Minister of Steel Development, Mr Shuaibu Audu, described steel as the backbone of industrialisation, essential for sectors like construction, automotive, and telecommunications. He noted that the lack of operational integrated steel plants has limited Nigeria’s potential, a gap the summit aims to address through collaboration and policy recommendations.
This decisive action to revoke dormant licences is expected to attract genuine investors, curb black-market practices, and position Nigeria’s mining and steel sectors as key drivers of economic prosperity.