NEWS
FG Revokes 924 Dormant Mining Licences as Minister Decries Racketeering
![](https://dailyasset.ng/wp-content/uploads/2022/12/mining-4.webp)
The Federal Government has revoked additional 924 dormant mining licenses.
Minister of Solid Minerals Development, Dr Dele Alake announced this on Wednesday in Abuja as he decried the racketeering of the issuance of the licences.
He told newsmen that mining licence racketeering was impeding the development of the sector and obstructing genuine investors from showing interest in Nigeria’s mines.
Licences revoked were 528 for exploration; 22 mining leases, 101 quarry licences and 273 small-scale mining licences.
The minister explained that a grace period of 30 days was given to defaulters to rectify their statuses, and to state reasons for dormancy on the sites allocated to them in line with Constitutional provisions.
He said that 963 licences were published in the official gazette of the Federal Government in December 2023 awaiting revocation.
Out of these, only 39 of the listed licence holders responded to the warning as they either moved to site immediately or they stated challenges hindering their operations, he added.
Alake stated that the revocation of the licences was taken to sanitise and reposition the mining sector to boost Nigeria’s economic profile and to accelerate its industrialisation.
He noted that the “first-come, first-served’’ rule in the licencing regime was a disincentive for genuine investors as the rule prohibited issuance of fresh licence on a site already allocated.
The ministry revoked 1,663 mining licences in November 2023 because of failure by licensees to pay statutory charges and other dues to the Federal Government.
Alake said that following the revocation of the 1,663 licences in 2023, government received a lot of pressure to reconsider the punitive measure.
According to him, in response to the pressure, government issued a policy for defaulters to make restitution and show remorse in order to be considered for reinstatement.
He said that the restitution varied depending on the category of licence revoked.
“The highest, which is on mining attracts a restitution N10 million per revoked licence payable to the Federal Government.
“For the small-scale licences, the restitution is N7.5 million for reinstatement and for exploration licence, the restitution is N5 million,’’ Alake said.
The minister warned in his 2024 New Year goodwill message that more mining licences would be revoked for other categories of defaulters.
He warned also that Nigeria’s mining sector would not continue to suffer from low investments because of nefarious activities of individuals who bought licences for promising mine sites only to resell them at the illegal market.
He added that the practice was tarnishing Nigeria’s image and was diverting funds that could be used for exploration to the illegal market to acquire licences at exorbitant prices.
Alake stressed that Nigeria was losing a significant amount of Foreign Direct Investment to the untoward practice. (NAN)
NEWS
Ajuri, Tinubu’s Spokesperson Takes Exit, Cites Mesical Reaaona
![](https://dailyasset.ng/wp-content/uploads/2023/08/Ajuri-Ngelale-Special-Adviser-Media.jpg)
Special Adviser on Media and Publicity to the President Chief Ajuri Ngelale has quit his job. He said in a statement in a Abuja that he would proceed on an ” indefinite leave, to deal with ” medical matters” affecting him amd hia immediate family.Hos statement reads: “On Friday, I submittd a memo to the Chief of Staff to the President informing my office that I am proceeding on an indefinite leave of absence to frontally deal with medical matters presently affecting my immediate, nuclear family.
While I fully appreciate that the ship of state waits for no man, this agonizing decision — entailing a pause of my functions as the Special Adviser to the President on Media & Publicity and Official Spokesperson of the President; Special Presidential Envoy on Climate Action, and Chairman, Presidential Steering Committee on Project Evergreen — was taken after significant consultations with my family over the past several days as a vexatious medical situation has worsened at home.I look forward to returning to full-time national service when time, healing, and fate permit.I respectfully ask for some privacy for my family and family”NEWS
Fuel Crisis: 1000 CSOs Fault Tinubu’s Economic Team, Want Immediate Reconstitution
![](https://dailyasset.ng/wp-content/uploads/2022/12/fuel-scarcity.jpg)
By David Torough, Abuja
About 1000 Civil Society Organizations (CSOs), under the auspices of Coalition Of Civil Society Organisations (CCSOs), on Saturday Faults President Bola Tinubu’s Economic Team and called for immediate reconstitution.Expressing deep concerns over the state of the economy and escalating fuel prices compounding the hardship of Nigerians despite the recent protest, the groups said Tinubu must act now to avert disintegration.
The groups said the current situation across the country has cast doubt on the competence of the Tinubu economic team and called for urgent review. The CCSOs in a statement by its National Coordinator, Mallam Ibrahim Mohammed, pointed out that the plight of Nigerians is sinking low and their patience is wearing off following the deteriorating economy.The statement reads in part, “The Coalition of Civil Society Organisations (CSOs) is deeply concerned about the deteriorating state of the Nigerian economy, which is becoming increasingly unbearable for millions of citizens.“It is evident that the recent hike in fuel prices and the unstable exchange rate are the direct results of economic mismanagement by those responsible for overseeing our nation’s financial policies. The ripple effects of these failures are being felt in every household across the country, worsening poverty and crippling economic activity.“The floating of the Naira, which was initially sold to Nigerians as a means of stabilizing our currency, has done little to prevent the continued devaluation of the Naira. In fact, the exchange rate disparity has widened significantly, with the Naira losing value daily, impacting the cost of living, basic commodities, and inflation.“While this policy was expected to ease foreign exchange pressure, it has instead deepened economic challenges due to poor implementation and lack of strategic foresight.”The coalition also expressed concern over what it described as a death trap of indebtedness of the Nigerian National Petroleum Company Limited (NNPCL), which also they claimed had slowed down importation of Premium Motor Spirit, PMS, hence the current shortage of PMS across the country. “Of equal concern is the precarious position of the Nigerian National Petroleum Company Limited (NNPCL), which finds itself in a debt trap, with global suppliers of petroleum products losing confidence in Nigeria’s ability to honour its obligations.“Reports have shown that NNPCL has accrued debts totalling over $6 billion, causing petrol supply shortages. International suppliers are now reluctant to continue providing fuel on credit, exacerbating supply chain issues and pushing up the price of petrol at the pump”, they claimed.The CSOs also asserted that, “We hold the managers of the Nigerian economy responsible for these disturbing developments. Their inability to provide sound policies and long-term solutions has left the nation in this predicament.“It is clear that there is no cohesive strategy to address the rising debt, the growing imbalance in the foreign exchange market, or the country’s heavy reliance on importation for petrol supply. The recent hike in fuel prices reflects the collapse of responsible economic management and accountability.“Nigerians are left to bear the brunt of these failures. Businesses are shutting down, transportation costs have skyrocketed, and citizens are spending an increasingly larger percentage of their income on basic necessities. This state of affairs is unacceptable.”The group therefore placed some demands; Immediate intervention from the government: There needs to be a comprehensive and transparent plan to stabilize the Naira, restore confidence in the petroleum supply chain, and negotiate a restructuring of NNPC’s debts to ensure continuous fuel supply.“Accountability for economic mismanagement: Those responsible for the reckless management of our foreign exchange policies and NNPC’s debts must be held accountable. The government must also disclose its plan to mitigate the rising fuel costs and economic burden on Nigerians.“A return to sound financial policy: The floating of the Naira has proven ineffective under current conditions. We call for a re-evaluation of monetary and fiscal policies to stabilize the economy, reduce inflation, and attract foreign investment.“In conclusion, the Coalition of Civil Society Organisations reiterates that without immediate corrective measures, the economic situation will continue to deteriorate, leading to further hardship for the average Nigerian. The government must act decisively and responsibly to reverse this downward spiral”, they added.NEWS
Tension in Makurdi Community as NAF Personnel Demolishes Houses, Destroys Rice Farm
![](https://dailyasset.ng/wp-content/uploads/2020/06/Demolished-Building-Ghana.jpg)
There is growing tension in Ugondu community, Makurdi LGA, Benue state by young people opposed to the demolition of houses and destruction of rice farms in the area allegedly on the directives of senior Air Force officer, Air Commodore Akinbuwa Ayodele.
It was learnt that Commodore Ayodele, who is facing multiple legal actions following dispute over a plot of land located on George Akume Way Makurdi and owned in blatant disregard to the judicial process embarked on destruction of structures on the plot.
Eyewitness said when the equipment arrived no one imagined it was for destruction.
But in a militray- like operation, two flats of two units each, completely roofed, electrified and plumbing work completed were among the structures demolished as the bulldozers rolled over rice farms in the vicinity as well.
It was learnt that last year, a Makurdi High Court presided by Justice Mary Ijohor, granted an order of perpetual injunction, in the same matter, upon application by the supposed owner of the plot and awarded the sum of One Million Naira (N1,000,000.00) only, as cost. The matter, enforcement of fundamental rights, was marked as MHC/582/M/2023.
Godwin Akor whose rice farm was destroyed in a chat with newsmen said that he was shocked at the development. He however said he won’t speak more on the matter as it is still before the court.