The Federal Government has revoked 1,263 mineral licences in a decisive move to free up land for serious investors and curb speculation in the mining sector. The action was taken because the companies failed to pay their mandatory annual service fees.
The Minister of Solid Minerals Development, Dele Alake, announced the revocation in a statement issued by his Special Assistant on Media, Segun Tomori, on Sunday in Abuja. The licences, which will now be deleted from the official mining portal, include 584 exploration licences, 65 mining leases, 144 quarry licences, and 470 small-scale mining leases.
The minister explained that the directive followed the recommendation of the Mining Cadastre Office (MCO) and was a necessary step to apply the law and keep speculators away. โThe era of obtaining licences and keeping them in drawers for the highest bidder, while financially capable and industrious businessmen are complaining of access to good sites, is over,โ Alake stated. He emphasised that paying the annual fee is the basic evidence that a company is genuinely interested in mining.
This latest revocation brings the total number of mineral titles cancelled under the current administration to 3,794. This figure includes 619 titles revoked last year for defaulting on fees and another 912 revoked for dormancy.
The government made it clear that the revocation does not pardon the outstanding debts owed by the companies. The list of defaulters will be forwarded to the Economic and Financial Crimes Commission (EFCC) to ensure the debts are recovered. โThis is to encourage due diligence and emphasise the consequences of inundating the licence application processes with speculative activities,โ the statement added.
The Director-General of the MCO, Simon Nkom, provided background on the process. He said that 1,957 licences were initially identified as defaulters when the government published its intention to revoke them in the official gazette on 19th June 2025. Licensees were given a 30-day grace period to comply with the law. The final decision was delayed slightly to reconcile claims from some companies who said they had made payments through the Remita platform.
The Minister reiterated that the law also allows licensees to voluntarily return a licence if they are no longer interested. โYou donโt have to wait for us to revoke the licence because the law allows you to return the licence if you change your mind,โ he said.
By opening up the areas formerly covered by these licences, the government expects to attract fresh applications from diligent investors, helping to grow the sector and implement the reforms of the Tinubu administration.
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