In response to this, the government revoked 1,633 licenses from defaulters.
Dr. Oladele Alake, the Minister of Solid Minerals Development, revealed this during a press briefing in Abuja.
He emphasized the government's commitment to sanitizing the Solid Minerals sector and enhancing its global competitiveness.
Alake expressed concern over corporate entities benefiting from mining yet failing to pay the government's due annual service fee.
The Ministry commenced the revocation process on October 4, 2023, targeting 2,213 titles, including exploration titles, small-scale mining licenses, quarry licenses, and mining leases.
After the mandatory 30-day period, only 580 title holders settled their debts.
Consequently, the Ministry recommended the revocation of 1,633 mineral titles, covering exploration licenses, quarry licenses, small-scale mining licenses, and mining leases.
Minister Alake invoked his authority under the Nigerian Minerals and Mining Act, 2007, to approve the revocation.
He warned previous title holders to vacate relevant cadasters immediately, as security agencies would collaborate with the Mines Inspectorate to apprehend any defaulter found in the revoked areas.
Alake criticized companies unwilling to pay their annual service fees, stating that the amount requested was minimal compared to their revenue.
He acknowledged the support of the Nigerian Press and the public, emphasizing the collective effort to bring about reforms and address solid minerals challenges.
The Minister highlighted the philosophy of the Nigerian Minerals and Mining Act, 2007, which aims to establish a transparent and comprehensive system for administering mineral titles.
The Mining Cadastral Office oversees the administration of titles, facing challenges in monitoring compliance due to non-payment of annual service fees.
Alake urged law-abiding title holders to fulfill their obligations, emphasizing the importance of supporting the mining sector's growth, as it is seen as the next petroleum.
The Permanent Secretary, Dr. Mary Ogbe, encouraged the press to disseminate the message widely and contribute to salvaging the mining sector.