The Federal Government has defended its decision to revoke several mining licences across the country, insisting that compliance with the law remains the foundation of Nigeria’s mining sector.
Senior aide to the Minister of Solid Minerals Development, Kehinde Bamigbetan, said the action followed clear provisions of the Nigerian Minerals and Mining Act, which requires licence holders to fulfil statutory obligations, including the payment of annual service fees.
Bamigbetan dismissed allegations suggesting that the revocations were targeted at specific investors or designed to favour foreign companies.
According to him, records from the Mining Cadastral Office show that five mining leases linked to Basin Mining Limited, associated with Australian investor Steve Davis, were withdrawn after the company allegedly failed to pay more than ₦2.4 billion in outstanding service fees for the 2024 and 2025 operational periods.
He stressed that Nigerian mining laws do not permit foreign companies to directly obtain licences without first establishing a locally registered company with the Corporate Affairs Commission (CAC).
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The minister’s aide also accused some investors of acquiring mineral titles for speculative purposes without actual mining activities, a practice the government says it is determined to end.
Bamigbetan disclosed that the ministry has commenced a nationwide audit of dormant and non-compliant licences, a reform initiative under the administration of President Bola Ahmed Tinubu aimed at sanitising the sector.
So far, over 3,700 mining licences have been revoked for regulatory violations, while companies owing statutory fees have been referred to the Economic and Financial Crimes Commission (EFCC) for possible recovery of outstanding debts.
He maintained that any disputes arising from the revocations should be resolved through the courts rather than public campaigns or misinformation.
(Editor: Ada Ononye)
