General
FG Revokes 3,794 Mining Licences in Two Years
By Adedapo Adesanya
Nigeria has revoked 3,794 mining licences since the inception of President Bola Tinubu administration in May 2023.
This is as the Minster of Solid Minerals Development, Mr Dele Alake, recently approved the revocation of 1,263 mineral licences over default in payment of annual fees.
In a statement by his Special Assistant on Media, Mr Segun Tomori, on Sunday in Abuja, he said the latest revocation approval, recommended by the Nigerian Mining Cadastre Office (MCO), included 584 exploration licences, 65 mining leases, 144 quarry licences, and 470 small-scale mining leases.
He said the move was part of ongoing efforts by the President Bola Tinubu’s administration aimed at sanitising the mining sector.
The minister said by the action, the licences would be deleted from the portal of the Electronic Mining Cadastral system of the MCO which would create more opportunities for investors .
“The annual service fee is the minimum evidence that you are interested in mining.
“You don’t have to wait for us to revoke the licence because the law allows you to return the licence if you change your mind,” the minister said.
Mr Alake said by opening up the areas formerly covered by these licenses, the move was expected to spur fresh applications by investors looking for fresh opportunities.
According to him, applying the law to keep speculators and unserious investors away from the mining sector will make way for diligent investors and grow the sector.
“The era of obtaining licences and keeping them in drawers for the highest bidder while financially capable and industrious businessmen are complaining of access to good sites is over,” he said.
Mr Alake warned that the revocation did not imply that the payment of the annual fees had been pardoned.
The minister stated that the list would be forwarded to the Economic and Financial Crimes Commission (EFCC) to ensure that debtors pay or face the wrath of the law.
“This is to encourage due diligence and emphasise the consequences of inundating the licence application processes with speculative activities,” he said.
According to Mr Tomori, the Director-General of the MCO, Mr Simon Nkom, in his presentation to the minister, stated that there were 1,957 initial defaulters when it published to revoke licences in the Federal Government Gazette on June 19, 2025.
He said that the gazette was distributed to MCO offices nationwide to sensitise those affected and to encourage them comply within 30 days inline with the Minerals and Mining Act 2007 and relevant regulations.
Mr Tomori said a total of 3,794 licences have been revoked since the inception of President Bola Tinubu administration including, 619 mineral titles revoked for default in paying annual service fees and 912 for dormancy last year.
Mr Alake had announced in August that more than 1,000 licences would be revoked to reposition the solid minerals sector as a driver of national industrial growth and continental leadership.
He said the Tinubu’s administration was laying the foundation for Nigeria where mineral resources create Nigerian jobs, feed Nigerian industries, and build Nigerian prosperity.
General
Yusuf Tuggar Steps Down as Foreign Minister Over 2027 Political Ambition
By Adedapo Adesanya
Nigeria’s Minister of Foreign Affairs, Mr Yusuf Tuggar, has resigned from his position, in line with the directive that government appointees seeking political offices must resign before March 31.
Business Post reports that the diplomat is eyeing a governorship ambition in Bauchi State ahead of the 2027 general elections.
Mr Tuggar’s resignation was confirmed in a statement by the ministry’s spokesperson, Mr Kimiebi Ebienfa, on Monday.
Mr Tuggar submitted his resignation letter on Monday, barely 24 hours before the deadline set by President Bola Tinubu, which directs all political appointees under his administration seeking to contest elective offices in the 2027 elections to resign before March 31.
The directive is in line with Section 88(1) of the Electoral Act, 2026, and the timetable released by the Independent National Electoral Commission for party primaries ahead of the 2027 polls.
With this development, more resignations are expected before the March 31 deadline as appointees seeking elective offices move to meet the stipulated deadline.
Earlier today, the Chairman of the Governing Board of the Federal Mortgage Bank of Nigeria (FMBN), Mr Nasiru Gawuna, formally resigned from his position to join the African Democratic Congress (ADC) with his sights on the Kano governorship ticket.
Mr Tuggar’s resignation comes amid the speculation of his interest in contesting the 2027 Bauchi State governorship election on the platform of the All Progressives Congress (APC).
The 59-year-old is a seasoned diplomat, policymaker, and political figure who was appointed as minister by President Bola Tinubu in August 2023.
Born on March 12, 1967, he has built a distinguished career spanning diplomacy, politics, energy, and strategic consulting.
He is widely regarded for his role in shaping Nigeria’s global engagement and advancing its foreign policy priorities.
General
Lagos to Deepen Private Sector Collaboration for Sustainable Urban Development
By Aduragbemi Omiyale
The Lagos State government has promised to sustain its collaboration with private sector players to drive sustainable urban development, create jobs, and position Lagos as a leading hub for commerce and industry in Africa.
This assurance was given by the state governor, Mr Babajide Sanwo-Olu, at the commissioning of Irele Tower last Thursday.
The nine-storey facility is the first commercial building within the Lagos Free Zone (LFZ). It is EDGE-certified, which sets a new standard for sustainable workspace in Lekki, Nigeria’s fastest-growing economic corridor.
Irele Tower is designed to host office and retail activities in the Lekki economic corridor. It was built for efficiency with 26 per cent less energy and 46 per cent less water consumption. It is an eco-friendly building, with the design inspired by maritime architecture, reflecting its proximity to the Lekki Deep Sea Port.
Mr Sanwo-Olu described the delivery of the Irele Tower as a significant milestone in the development of the economic zone in line with the agenda of making Lagos a 21st-century economy by boosting economic growth to support the state’s developmental plans.
According to him, the facility is critical to unlocking the full potential of the Ibeju-Lekki axis of the economic zone, particularly given the presence of the Lekki Deep Sea Port and other major industrial investments within the Lagos Free Zone.
“The commissioning of Irele Tower is a clear demonstration of what can be achieved through strong collaboration between the public and private sectors. This development not only enhances the infrastructure profile of the Lagos Free Zone but also strengthens our vision of making Lagos a premier destination for investment and economic activities.
“We will continue to support initiatives that promote industrial growth, create employment opportunities, and improve the overall business environment in our state,” he said.
In her remarks, the chief executive of LFZ, Ms Adesuwa Ladoja, stated that the development reflects the zone’s commitment to creating an integrated ecosystem where businesses can thrive, supported by modern infrastructure, a strategic location, and efficient logistics.
“The commissioning of Irele Tower represents a defining milestone in our journey to build a world-class industrial and commercial hub. This development reflects our commitment to providing high-quality infrastructure that supports ease of doing business and enhances operational efficiency for our tenants.
“As the first commercial tower within the Lagos Free Zone, Irele Tower, sets a new benchmark for quality workspace in this corridor and reinforces our position as a preferred destination for investment and enterprise,” she added.
Irele Tower sits on a gross floor area of approximately 12,000 square metres. It offers modern workspaces tailored to evolving business needs. The facility also offers premium amenities, including office spaces, retail outlets, parking facilities, shared workspaces, and a rooftop cafeteria, creating a dynamic, integrated business environment.
General
FMBN Chairman Gawuna Resigns Ahead of March 31 Deadline
By Adedapo Adesanya
The Chairman of the Governing Board of the Federal Mortgage Bank of Nigeria (FMBN), Mr Nasiru Gawuna, has formally resigned from his position, obeying a directive that requires office holders with political ambitions to step down before March 31, 2026.
Mr Gawuna, a former governorship candidate of the All Progressives Congress (APC) in Kano State, submitted his resignation in a letter dated March 27, 2026. In the letter, he stated that his decision takes immediate effect and is in compliance with directives issued by President Bola Tinubu.
He is expected to formally announce his move to the African Democratic Congress (ADC) on Tuesday alongside Mr Rabiu Musa Kwankwaso, a prominent political figure and former Governor of Kano, who resigned from the New Nigeria People’s Party (NNPP).
The former governor of Kano and senator rose to prominence through his grassroots-oriented Kwankwasiyya Movement, which has played a decisive role in shaping electoral outcomes in Kano. His political journey has seen him move across major parties before leading the NNPP into the 2023 general elections, where he maintained significant influence in the North-West state.
“My resignation is in strict compliance with the President’s directive requiring all political appointees to step down in accordance with the provisions of the Electoral Act,” Mr Gawuna wrote.
In his resignation letter, Mr Gawuna expressed appreciation for the opportunity to serve under the current administration, describing his tenure as both an honour and a privilege.
“I am profoundly grateful to His Excellency, President Bola Ahmed Tinubu, for the confidence reposed in me to serve. It has been a privilege to contribute to the growth and development of the Federal Mortgage Bank of Nigeria and our great country,” he stated.
He also struck a reflective tone regarding his future, adding, “I place my future in the hands of Allah (SWT) and seek His divine guidance in all my endeavours.”
Mr Gawuna assured stakeholders of a seamless transition process, noting that he would hand over responsibilities in line with established procedures.
“I remain committed to ensuring a smooth and orderly handover in accordance with all laid-down directives,” he said.
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