The Federal Government, through the Ministry of Solid Minerals Development, yesterday, revoked no fewer than 1,263 mineral licences following defaults in payment of yearly service fees.

The revoke comprises 584 exploration licences, 65 mining leases, 144 quarry licences, and 470 small-scale mining leases. By opening up the areas formerly covered by these licences, the revocation is to spur fresh applications by investors looking for fresh opportunities in the sector.

Approving the revocation following the recommendation of the MCO, Minister of Solid Minerals Development, Dr. Dele Alake, said applying the law to keep speculators and unserious investors away from the mining sector would make way for diligent investors and grow the sector. He noted that the affected titles would be deleted from the portal of the Nigerian Mining Cadastral Office’s (MCO) Electronic Mining Cadastral System.

Alake said: “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.

“The annual (yearly) 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.”

In a statement by his Special Assistant on Media, Segun Tomori, the minister warned that the revocation does not mean the Federal Government has pardoned the yearly service debt owed by licensees. He said the list of defaulters would be forwarded to the Economic and Financial Crimes Commission (EFCC) for recovery and enforcement.

Alake added: “This is to encourage due diligence and emphasise the consequences of inundating the licence application processes with speculative activities.”

Director-General of the MCO, Simon Nkom, disclosed that there were 1,957 initial defaulters when the agency published the intention to revoke licences in the Federal Government Gazette on June 19, 2025.

He informed the minister that the gazette was distributed to MCO offices nationwide to sensitise licensees and encourage them to comply within 30 days with the Minerals and Mining Act 2007 and relevant regulations.