The Minister of Solid Minerals Development, Dr. Dele Alake, has revealed plans to cancel over 1,000 dormant mining licences nationwide.

This initiative is part of the Federal Government’s effort to streamline the licensing system and boost the mining and steel sector for industrial growth.

In May 2024, the government had already revoked 924 inactive mining licences, citing concerns that some holders were exploiting them to trade mining titles illegally. The revoked permits included 528 exploration licences, 20 mining leases, 101 quarry licences, and 273 small-scale mining licences.

Alake made this disclosure during the opening of the maiden National Steel Summit in Abuja on Wednesday.

He 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 wish to announce here again that very shortly I am going to announce another over 1,000 licences that will be revoked,” he said.

He emphasized that the solid minerals sector is no longer a playground for opportunists, but a key driver of national industrial growth and Africa-wide leadership.

Alake reaffirmed the government’s vision of leveraging Nigeria’s mineral resources to create jobs, strengthen local industries, and enhance economic prosperity.

“We are laying the foundation for Nigeria where mineral resources create Nigerian jobs, feed Nigerian industries, and build Nigerian prosperity,” he stated.

He also described the summit’s theme, “Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness,” as fully aligned with Nigeria’s economic diversification agenda.

Alake noted that President Bola Tinubu’s administration is committed to making Nigeria the steel hub of West Africa, relying on local beneficiation, sustainable practices, and private-sector partnerships.

He further emphasized that Nigeria must move beyond exporting raw minerals and importing finished products, instead harnessing its mineral resources to generate jobs, advance technology, and drive national prosperity.

The Minister stated that the Ministry of Solid Minerals Development is aligning its reforms to support the Ministry of Steel Development, acknowledging that the steel value chain begins 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, stated that the ministry is implementing targeted reforms in industrialization, manufacturing, and innovation to accelerate economic diversification.

She explained that the goal is to ensure Nigeria’s resources are processed and value-added, thereby creating jobs, building industrial capacity, and fostering 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.