By Faridat Salifu
In a move to sanitise Nigeria’s mining sector, the Federal Government is clamping down on speculators who hold vast mineral-rich lands without development, signaling a shift toward a more accountable and productive extractive industry.
Obadiah Simon-Nkom, Director General of the Nigerian Mining Cadastre Office (MCO), warned such speculators during a recent media briefing in Abuja, reiterating the government’s “use it or lose it” policy.
This decision comes as part of broader efforts to eliminate inactive license holders who contribute little to economic development but block access for serious investors.
“Title hoarding is over. We are no longer in the era where individuals or companies sit on mineral-rich lands for years without a single shovel hitting the ground,” Simon-Nkom said. “If you can’t justify holding a concession, the license will be revoked and reallocated to those ready to work.”
The renewed crackdown is part of the MCO’s drive to clean up the mining title registry and attract genuine investors.
So far in Q1 2025, 152 licenses have been modified through relinquishments, renewals, and transfers—an indication of intensified compliance enforcement and a clear signal to non-performing title holders.
The shift also includes a recalibration of fees to reflect actual land usage.
No longer can concessionaires pay the same rates regardless of size—those occupying larger areas must now pay proportionately more, a move Simon-Nkom says will discourage speculative hoarding and ensure only committed operators remain in the system.
“It’s now strategic: if your land isn’t economically viable or you’re just holding it with no plans for development, relinquish it. That land could be used by someone ready to invest, create jobs, and boost local economies,” he stated.
These reforms are not only about increasing revenue—although the agency did generate a record N6.95 billion in Q1—but about realigning the sector with national priorities, including curbing illegal mining, promoting legal operations, and fostering economic diversification.
Simon-Nkom affirmed that the MCO now acts with quasi-judicial powers to resolve disputes, verify claims, and enforce regulations, using tools such as affidavits, community consultations, and traditional ruler endorsements to ensure due process.
With strong backing from security and anti-corruption agencies, and the support of the Nigerian Financial Intelligence Unit (NFIU), the MCO’s reforms are positioning Nigeria’s solid minerals sector for a more transparent, investor-friendly, and sustainable future.
