By Adedapo Adesanya
The federal government has announced the revocation of mineral titles of 1,633 holders with a stern warning to the former title holders to vacate the relevant cadastre immediately.
This was disclosed by the Minister of Solid Minerals Development, Mr Dele Alake, who noted that the mineral titles were revoked due to the holders’ failure to pay the prescribed annual service fees on time.
He said despite a 30-day written default notice from the Mining Cadastre Office, the holders were found in violation and non-compliance with their statutory obligations to the government.
According to him, security agencies, in collaboration with the Mines Inspectorate of the Ministry, have been authorised to apprehend any defaulters found in the areas where titles have been revoked.
Speaking at a media briefing in Abuja on Tuesday, Mr Alake explained that President Bola Tinubu is focusing on the sector as a game changer to reposition the country for lasting prosperity.
Recall that last month, the federal government and a consultancy giant, PricewaterhouseCoopers (PwC), announced a collaboration that will help the Ministry of Solid Minerals Development execute the policies under the seven-point roadmap to transform the country’s mining sector and drive Foreign Direct Investment (FDI) to the country.
The Minister of Solid Minerals Development made it known that the government would work with a foremost consulting firm when he received the PWC partner on mining, Mr Habeeb Jaiyeola.
Nigeria is rich in mineral resources and has immense potential for mining development. However, the lack of available expertise and funding has posed challenges in advancing mining projects.
Modupe Gbadeyanka