The Nigeria Extractive Industries Transparency Initiative, NEITI, has thrown its weight behind the Federal Government amid the revocation of 1,263 mineral licenses over non-payment of statutory fees and royalties.
NEITI, in a statement on Monday, described the move as “bold, timely, and consistent” with its own findings.
The revoked licenses include: 584 exploration licenses, 65 mining leases, 144 quarry licenses, and 470 small-scale mining leases.
A total of 3,794 mineral titles have now been revoked under the current administration.
NEITI’s Executive Secretary, Orji Ogbonnaya Orji, said the figures highlight a persistent culture of non-compliance that undermines revenue generation and erodes the credibility of the solid minerals sector.
Orji stressed that the sanctions would discourage future defaults and pave the way for serious investors equipped with the necessary capital and technology to engage in responsible exploration and mining.
According to him, releasing the licenses from dormant or non-compliant operators will open access to genuine investors, increase competition, enhance the overall investment climate, and improve revenue collection.
He added that beyond encouraging investment, the revocation targets a long-standing issue of revenue leakages, emphasising that billions of naira in unpaid fees could have supported critical sectors like infrastructure, education, and healthcare.
‘Bold, timely, consistent’ – NEITI backs FG on revoking defaulting licenses