csrreporters 
The Federal Government has announced plans to cancel more than 1,000 dormant mining licences as part of a sweeping effort to sanitise Nigeria’s licencing system and reposition the mining and steel sector for industrial growth.
Minister of Solid Minerals Development, Dr. Dele Alake, disclosed this at the maiden National Steel Summit in Abuja. He said the revocation follows a similar exercise in May 2024, when 924 inactive licences were withdrawn amid concerns that some holders were trading them on a black market for mining titles. Those cancellations covered 528 exploration licences, 20 mining leases, 101 quarry licences, and 273 small-scale mining licences.
Alake stressed that the solid minerals sector would no longer serve as a haven for speculators but would instead become a catalyst for industrialisation. He added that mineral resources must be harnessed to create jobs, feed local industries, and drive economic prosperity.
“We cannot continue the cycle of exporting raw minerals while importing finished products,” he said. “Nigeria must leverage its mineral wealth to create technology-driven jobs, build local capacity, and boost competitiveness.”
The minister also revealed that his ministry is working closely with the Ministry of Steel Development to align mining policies with steel production goals, noting that both sectors are interdependent and critical to economic diversification.
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, added that her ministry is implementing reforms to support industrialisation, including the creation of special economic corridors, improved trade and labour infrastructure, and policies to attract steel investments.
On his part, Minister of Steel Development, Prince Shuaibu Audu, described steel as the “backbone of industrial growth,” essential for construction, automotive, electronics, defence, shipbuilding, and telecommunications. He said the summit was convened to review the industry’s challenges, identify investment opportunities, and develop a unified roadmap for a sustainable steel sector.