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FG revokes 2,531 mineral titles for payment default, inactiveness in one year 

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The Federal Government of Nigeria has revoked 2,531 mineral titles due to payment default and inactivity over the past year. 

This announcement was made by the Minister of Solid Minerals Development, Dr. Oladele Alake, during the Sectoral Updates Series to mark the first anniversary of President Bola Ahmed Tinubu’s administration at the National Press Centre, Radio House, Abuja on Thursday, May 23, 2024. 

Alake highlighted the comprehensive efforts made by the Ministry of Solid Minerals Development to enhance service delivery and increase revenue generation. 

The minister revealed that the Mining Cadastre Office (MCO) has undergone significant repositioning in the last 12 months, particularly with the development of the eMC+ software for mineral title application. 

Other key modifications include the completion of e-Recording and Archiving of Mineral Title documents, acquisition, geo-referencing and geocoding of topographic maps of Nigeria, and the production of thematic mapping of mineral title restricted areas.

These initiatives have led to improved confidence in the system, evidenced by the substantial increase in applications. 

According to the minister, the MCO received 10,534 applications within the period under review. This includes 4,651 unassisted online submissions and 5,883 MCO online-assisted submissions. 

Additionally, 3,177 companies submitted mineral title applications, of which 3,084 were local companies, and 93 had international affiliations. 

The minister also noted that 559 new applications were received in April 2024, and the MCO issued 40 new exploration licenses, 71 new small-scale mining licenses, and four new mining leases in the last year. 

Consequently, 258 new operational mining and quarrying companies have commenced operations, employing over 9,030 people. 

On the amount of revenue generated from the applications, the sector generated N6.2 billion from May 2023 to April 2024, surpassing the previous year’s revenue by 59.6%.

The total revenue collected within the period (May 2023 and April 2024) was N16.4 billion, while N14.94 billion was generated for the year 2023, representing a 172.1% performance compared to the annual budgetary target of N8.6 billion for 2023. 

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