The Federal Government has revoked several dormant mining licences as part of efforts to attract serious investors and unlock the full potential of Nigeria’s solid minerals sector.
The Minister of Solid Minerals Development, Dele Alake, disclosed that the move is aimed at freeing up opportunities for genuine investors willing to actively develop the country’s mineral assets, rather than holding licences without productive activity.
In a shift toward economic diversification, Alake emphasized Nigeria’s commitment to ending the export of raw minerals. He noted that new policies are now encouraging in-country processing and manufacturing to enhance value addition, create jobs, and increase national revenue.
According to him, the impact of these reforms is already becoming visible, with multiple lithium processing plants, gold refineries, and mineral-processing factories—worth millions of dollars—emerging across the country. He added that the newly introduced EMERGE initiative would further strengthen mineral exploration, research, and innovation, ensuring sustainable long-term growth in the sector.
Also speaking, the Executive Secretary of the Solid Minerals Development Fund, Fatima Shinkafi, underscored the importance of data-driven exploration in modern mining economies. She explained that countries with robust geological databases tend to attract more investments and derive greater value from their mineral resources.
READ ALSO: Nigeria, Ethiopia Sign Prisoner Transfer Agreement to Repatriate Convicts
Troops Uncover Major Arms Cache in Enugu, Bust IPOB/ESN Hideout
Shinkafi described the launch of the EMERGE initiative as a clear signal of Nigeria’s determination to transform its mining industry from a raw-material exporter into a globally competitive ecosystem driven by research, innovation, and local value addition.
The reforms are expected to position Nigeria as a key player in the global minerals market while fostering industrial development and employment opportunities at home. :::
About The Author
