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Home Economy/Technology

Why Nigeria revoked mining licences

Mining

The Matters Press by The Matters Press
November 24, 2023
Reading Time: 2 mins read
0
Private sector in Mining sector will accelerate development

Abuja, Nov. 24, 2023: The Minister of Information and National Orientation, Alhaji Mohammed Idris, says the recent revocation of 1,633 mining licences is to sanitise the sector to fit into the Renewed Hope Agenda of President Bola Tinubu.

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Idris stated when he paid a courtesy visit to the Minister of Solid Minerals, Dr Oladele Alake, on Thursday in Abuja.

According to him, the outcry that the revocation of licences means throwing people out of business and jobs is not true.

“This is because the Federal Government is trying to sanitise the sector. Gone are those days anybody would just carry equipment, enter the bushes, and start digging.

“What the Federal Government is saying is that, organise yourselves, come together, form a cooperative society, and then, you can come back to the Minister of Solid Minerals and get your license back.

“Nobody is being targeted or thrown out of business. Those we are targeting are those harming the economy of the country,

“But if you are there to positively impact the solid mineral subsection and enhance it, the minister is there to give you the necessary support.

“Those who are coming into the sector may probably get a waiver or incentives. This is a sector that President Bola Tinubu wants to grow, and for it to grow, there must be regulations,” Idris said.

The information minister further explained that it could not be business as usual, reiterating that revocation of licences does mean people are thrown out of business.

“Rather you are being helped to organise your business in a way that would fit into the vision of what the government has in developing this critical sector for national benefit”.

Responding, Alake expressed confidence in the capacity and tenacity of Idris to market the Solid Mineral sector to the world to woo investors.

“Given my very close proximity to Idris and knowledge of him and his ways, he is a deep philosopher and a man with attributes of responsible leadership.

“I am happy that he is the one in the driver seat of the Information Sector of the Government. I have confidence in his ability, capacity to achieve the stated objectives of this government,” Alake said.

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