On Sunday, Nigeria's Minister of Solid Mineral Development, Dele Alake, revealed in a press statement that there are plans to revoke the mining licenses of defaulting mining companies in 2024, the Basher reported.
Alake also said that Nigeria's mining industry will experience a major leap forward, which will contribute significantly to the country's gross domestic product.
Alake reiterated that President Tinubu's vision to diversify the economy through a renewed focus on solid minerals is on track and asserted that reforms in the mining sector will yield great results in the New Year.
Alake also revealed that it had revoked 1,633 mining permits last year for defaulters who had defaulted on annual fees. More defaulters will be dismissed in 2024.
