Home News Tinubu’s One-Year in Office: Alake Announces Revocation Of Dormant Mining Licenses As Achievement
NewsPolitics

Tinubu’s One-Year in Office: Alake Announces Revocation Of Dormant Mining Licenses As Achievement

853
Tinubu's One-Year in Office: Alake Announced Revocation of Dormant Mining Licenses as Achievement
L-R: Minister of Solid Minerals, Dele Alake | President Bola Tinubu

To mark President Bola Tinubu’s one year in Office, the Minister of Solid Minerals and Development, Dele Alake, has announced a new policy hindering mining companies interested in using the country’s solid minerals to set up plants and process such materials outside the country.

Alake disclosed this to the media as part of achievements in the Tinubu-led administration.

In order to prove the seriousness of the administration to the development of the Solid Mineral sector, the Ministry has revoked mining licenses of no fewer than nine thousand dormant companies that got approvals but did not use the licenses to produce anything,” he said.

Alake also stated that despite revoking 9,000 dormant mining licenses, 10,0000 new applications resurfaced, many of which have been issued licenses.

Alake boasted that the Tinubu administration is determined to turn the solid mineral industry into a significant economic sector, competing with the oil and gas industry as a new source of revenue for Nigeria.

Meanwhile, the Minister of Mines and Steel Development, Shuaib Audu Abubakar, who spoke just as his counterpart, said the federal government had approved the sourcing of $25 million to revive the Ajaokuta Steel Plant in Kogi State.

According to Abubakar, producing iron rods would be a start for the construction industry.

He also stated that the ministry is ‘deliberating’ whether to bring back the Russian firm that constructed the Ajaokuta Steel Plant, TyazhPromExport (TPE), or consult China.

While this is short of an accomplishment, the ministers have expressively disclosed these as achievements of the first anniversary of the Tinubu administration.

About The Author

Written by
Mayowa Durosinmi

M. Durosinmi is a West Africa Weekly investigative reporter covering Politics, Human Rights, Health, and Security in West Africa and the Sahel Region

Related Articles

News

Lavish Living, Crushing Taxes: Inside Tinubu’s Nigeria Where The Powerful Flaunt Wealth As Citizens Sink Deeper Into Poverty

As President Bola Tinubu’s regime pushes its new tax reforms that would...

Nobel Peace Prize
NewsOpinion

The Nobel Peace Prize: A Weapon of Western Hegemony

From Dynamite to Diplomacy, the Birth of a Paradox Alfred Nobel, the...

NewsWorld

Mali Imposes $10,000 Bond on U.S. Visitors as Burkina Faso Rejects Deportee Deal

The Malian government has announced that American citizens will now be required...

NewsWorld

Burkina Faso Rejects U.S. Request to Receive Deported Migrants

Burkina Faso has rejected a request from the United States to receive...