• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Nigeria revokes over 1,600 mining licenses

2 years ago
in Business, Features, highlights, Home, home-news, latest News, Mining
1 min read
0 0
0
72
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

Nigeria revokes over 1,600 mining licenses

Nigeria has revoked the operating license of 1,663 mining operators, citing the non-payment of annual service fees by the titleholders as the primary reason.

Minister of Solid Minerals Dele Alake told a press conference Tuesday in the capital of Abuja that the revocation of titles followed the non-compliance with a 30-day notice of payment issued to defaulting titleholders in the country.

The move marked a significant step in restructuring the mining sector and ensuring financial compliance among industry participants, he said.

“I, hereby, warn the previous holders of these titles to leave the relevant cadaster with immediate effect as security agencies shall work with the mines inspectorate of the ministry to apprehend any defaulter found on any of the areas where titles have been revoked,” Alake said, noting the government’s move was backed by the Nigerian Minerals and Mining Act of 2007.

The affected licenses, covering a diverse array of minerals and locations across the country, were subjected to a meticulous review that revealed a widespread pattern of non-compliance with the mandatory annual service fees, the minister said.

These fees, a crucial component of the regulatory framework, are intended to fund essential services related to mining activities in the most populous African country.

“The philosophy of the Nigerian Minerals and Mining Act 2007 is to establish a rational system of administering titles transparently and comprehensively to ensure a seamless transition from reconnaissance to exploration and from exploration to mineral extraction,” Alake said, explaining that every sector required a governance system that regulates the conduct of its participants, including the procedures for entry and exit, government’s obligations to participants and the penalties for non-compliance.

The minister also hinted at an impending move by the government to review, upwardly, the annual service fee. The ministry has outlined a roadmap for reinstating licenses, which includes the prompt payment of outstanding service fees, adherence to environmental standards, and engagement in community development initiatives.

“It is indeed very unconscionable for corporate bodies making huge profits from mining to refuse to give the government its own due by failing to pay their annual service fee,” Alake said.

The Nigerian government has said that the restructuring aims not only to enforce compliance but also to encourage a more sustainable and socially responsible approach to mining in the long run.

Tags: 600 mining licensesmining licensesNigeria revokes over 1
No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.