FG Revoked 3,400 Mining Licences in One Year *Promises to revoke more unutilised titles this year *Generates N14.59bn revenue from mining licenses in five years Deji Elumoye in Abuja The fed
*Generates N14.59bn revenue from mining licenses in five yearsThe federal government has disclosed that 3,400 mining licenses were revoked within one year with a promise to revoke other unutilised mining titles in 2023.
“You can decide to remedy the effect on the 29th day. We are fine with that, but once it is 30 days, and you don’t remedy the defects, then we revoke the title because we know that all these are subjects to litigations.” However, between 2021 and 2022, the agency’s revenue fell from N4.3 billion to N3.79 billion respectively, attributing this drop in revenue to changes in its internal operating system which temporarily affected revenue inflow.
“My mandate is simply administration of mineral titles in line with the provisions of the Act establishing the agency. The agency came into being in 2007 with the re-enactment of the Act.
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