FG revokes 4,176 mining titles
The Ministry of Mines and Steel Development said it revoked 4,176 mining titles between 2011 and 2018.
The Ministry disclosed this in a report made available in Abuja.
It said that 908 mining titles were revoked in 2011, none was revoked in 2012, 548 were revoked in 2013 and 250 in 2014.
The report said no title was revoked in 2015, while 941 titles were revoked in 2016, none was revoked in 2017 and 1,529 were revoked in 2018.
The report said that revocation of the titles were as a result of failure on the part of licensees to meet up with the required obligations as stipulated in the Nigerian Minerals and Mining Act, 2007 and the Regulation, 2011.
It said that the justification and major benefits that the government derived from the exercise include the removal of dormant and unused titles in the Mining Cadestre Office (MCO) mineral titles database.
According to the report, the revocation has helped to reduce to the barest minimum the level of speculation and discouragement in the sector.
The report said it also helped to ensure only genuine investors had access to the minefield among others.
Meanwhile in November 2018, the Mining Cadastre office also said it revoked over one thousand mineral titles in line with the provisions section 155 of the Nigerian Minerals and Mining Act, 2007 and the Regulations made pursuant to it.
According to a release by the office, prior to the revocation of mineral titles, the cadastre office had issued a notification to all mineral title holders to update necessary information on their titles, renewal of licences and leases, payment of annual service fee, commencement of full operations on allocated sites else they face the ‘use-it ot lose-it’ policy in line with the provisions of the NMMA 2007 and submission of a periodic operational report.
The Office also stated that it would take appropriate action, to recover any outstanding fees or commitments due to the Federal Government