Mining licence revocation: FG scrutinising more defaulters - Alake
AFTER cancelling 1,633 mining licences for failure to pay annual service fees, the Federal Government is beaming searchlight on other illegal activities within the industry, including, licence racketeering and those that obtained licences over the years but failed to move to sites.
Dele Alake, the minister of solid minerals development, who revealed this, said the government was bent on sanitising the sector, describing Nigeria as Africa’s choice mining investment destination.
Alake stated this while virtually addressing the Nigeria-australia Investment Roundtable, according to a statement by Segun Tomori, his special assistant on media.
“We have raised the approval level of permits and licenses for buying minerals; export of minerals and operation of mineral processing centres whilst also authorising the publication of the monthly digest of mining statistics to keep the sector abreast of developments”.
The minister told his audience to make Nigeria their choice investment destination, reiterating the commitment of President Tinubu’s administration to provide incentives and remove impediments to the ease of doing business.
“Australians seeking to expand their mining portfolio to Africa should prioritise Nigeria given our positive investment-friendly policies and ongoing rapid transformation. Many of the heavy equipment imported for mining can be evaluated to qualify for tax waivers and exemption from import duties. Nigeria also has favourable funds and capital repatriation policy that ensures investors’ funds are not trapped”, the minister noted.
Highlighting efforts to combat illegalities and insecurity around mining areas, Alake cited the establishment of the 2,220-strong elite para-military force tagged “Mining Marshals” made up of a 60-man rapid response squad, deployed in each of the 36 states of the federation and FCT.
“Illegal mining is not just unlicensed mining. It covers licensed miners operating with invalid licences and licensed operating outside their coordinates or mining minerals not approved in their licences. The specialised mining marshals have in the little time of operations discouraged illegal mining, brought relief to recognised miners and are clamping down on those involved in nefarious activities around mining areas across the country”, he said.
Alake told the Australian investors that plans for the establishment of the private sector-led Nigerian Solid Minerals Corporation have reached an advanced stage. He said the corporation would be a joint venture with investors on critical minerals like lithium, gold, baryte lead, and iron-ore among others.
“Both the legislative and corporate processes for the establishment of the corporation have reached appreciable stages. I hope to invite you to the formal unveiling of Nigeria’s intervention in the international mining business, very soon”, he added.