By Abdullahi Lukman
The Minister of Solid Minerals Development, Dr. Dele Alake, has announced plans to revoke over 1,000 dormant mining licences soon, following the revocation of 900 licences in 2024.
The announcement was made on Wednesday at the maiden National Steel Summit in Abuja.
Alake explained that the previous licences were held by speculators rather than developers, hampering progress in the solid minerals sector.
He said the revocation is part of efforts to clean up the licensing system and ensure the sector drives national industrial growth and economic development.
“The Solid Minerals sector is no longer a playground for opportunists.
We are laying the foundation for Nigeria where mineral resources create jobs, feed industries, and build prosperity,” he said.
The summit’s theme, “Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness,” aligns with Nigeria’s broader goal of economic diversification.
Alake stressed the administration’s commitment to making Nigeria the steel hub of West Africa through local beneficiation, sustainable practices, and private-sector partnerships.
He highlighted the need for Nigeria to shift from exporting raw minerals and importing finished goods to leveraging its mineral wealth for job creation, technology development, and national prosperity.
The ministry is aligning reforms to support steel production, emphasizing the interdependence of mining and steel industries.
In her remarks, Minister of Industry, Trade and Investment Dr. Jumoke Oduwole said her ministry was driving economic diversification through reforms in industrialisation, manufacturing, and innovation.
She emphasized value addition to Nigeria’s resources to create jobs, boost industrial capacity, and strengthen economic resilience.
Dr. Oduwole also mentioned the establishment of special economic corridors and infrastructure aimed at attracting investment and integrating Nigeria’s steel industry into global and regional markets.
Minister of Steel Development, Mr. Shuiabu Audu, described steel as the backbone of industrial value chains, critical for sectors like construction, automobiles, electronics, and telecommunications.
He noted that Nigeria has abundant raw materials but lacks operational integrated steel plants to maximize its industrial potential.
Audu stressed that increasing iron and steel production would create jobs, sustain economic growth, and diversify the economy.
He said the summit aimed to assess the industry’s status, identify investment opportunities and policy gaps, and foster collaboration between industry players and policymakers for a sustainable steel sector in Nigeria.
