The minister of solid minerals development, Dr Dele Alake, says more revocations of mining licences are in the offing for other categories of defaulters in 2024.

Mr Alake issued the warning in his New Year goodwill message to Nigerians in Lagos on Monday.

The federal government had revoked 1,633 mining licences for those who defaulted on the payment of annual service fees in 2023.

The minister said the federal government was prioritising value addition for prospective investors in the mining sector, adding that the era of carting away their resources was over.

“The era of just carting away our resources is over. We want to see practical plans to develop these raw materials into finished products or plans to add value to host communities before we even licence new operators.

“This is pertinent so that the mining sector can lead the way in industrialisation, create massive jobs for our teeming young population, and contribute substantially to economic development in the new year.

“Our plans to tackle the menace of insecurity in mining areas alongside the activities of illegal miners through a rejigged security architecture are well on course.

“In a short while, we will see the result of months of engagement with heads of security agencies, as we are poised to rout those plundering Nigeria’s mineral resources,” he said.

The minister said the plans would make the mining sector experience a major leap in 2024 towards contributing to increased Gross Domestic Product (GDP).

He said this was in line with President Bola Tinubu’s vision of diversifying the economy through a renewed focus on solid minerals, asserting that reforms in the sector would yield tremendous results in the new year.

According to him, on our part in the solid minerals development ministry, we will be consolidating on reforms that commenced with our ambitious seven-point agenda, on assumption of office, four months ago.

Mr Alake assured Nigerians that an efficient governance structure that would transform the opaque nature of the mining sector would crystallise this year. 

(NAN)