• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Sectors Manufacturing

FG to grant mining licenses to only companies that process locally

Aghogho Udi by Aghogho Udi
March 28, 2024
in Manufacturing, Sectors
Dele Alake
Share on FacebookShare on TwitterShare on Linkedin

New mining licenses will be issued by the federal government solely to companies that propose a strategy for local mineral processing, as part of the new guidelines being established by the Ministry of Solid Minerals.

Segun Tomori, the spokesperson for the Minister of Solid Minerals, Dele Alake, announced the move, indicating a departure from Nigeria’s long-standing practice of exporting raw materials, aligning with the trend among African nations to gain more value from their mineral resources.

Recommended reading: FG revokes 1633 mining licences in Nigeria over unpaid fees

Tomori mentioned that the government aims to encourage investment by providing incentives such as tax breaks for importing mining machinery, facilitating the acquisition of electricity generation licenses, permitting the complete repatriation of profits, and enhancing security measures.

RelatedStories

FG, Borno sign MoU for takeover and transformation of National Orthopaedic Hospital, Azare 

FG, Borno sign MoU for takeover and transformation of National Orthopaedic Hospital, Azare 

May 16, 2025
Mining Cadastre Office generates N10.9 billion in four months – DG 

Mining Cadastre Office generates N10.9 billion in four months – DG 

May 12, 2025
  • He stated, “In exchange, we have to review their plans for setting up a plant and how they would add value to the Nigerian economy.”

Last week, Dele Alake, the Minister of Solid Minerals Development, declared that adding value locally would now be a prerequisite for acquiring mining licenses, with the aim of generating employment and supporting local communities.

Dele Alake, who chairs the African mining strategy group that includes mining ministers from Uganda, the Democratic Republic of Congo, Sierra Leone, Somalia, South Sudan, Botswana, Zambia, and Namibia, is advocating for a collective African initiative to ensure local communities gain substantial benefits from mineral exploration.

What you should know

Despite being Africa’s leading energy producer, Nigeria has struggled in leveraging its abundant mineral resources due to inadequate incentives and neglect.

The nation’s underdeveloped mining sector accounts for less than 1% of its gross domestic product.

The federal government is focusing on attracting more investment to the sector by increasing the issuance of licenses. It has established a state-owned corporation for solid minerals, granting investors a 75% ownership share, and has also created a special security unit dedicated to combating illegal mining activities.

Recommended reading: EFCC apprehends five for suspected illegal mining in Ilorin

Follow us for Breaking News and Market Intelligence.
Tags: Dele AlakeFGMining
Aghogho Udi

Aghogho Udi

My name is Aghogho Udi, a writer, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader African context. My focus lies in shedding light on the intricate connections between macroeconomics and politics, offering valuable insights that foster comprehension of Africa's prevailing economic landscape and the world in general.

Related Posts

FG, Borno sign MoU for takeover and transformation of National Orthopaedic Hospital, Azare 
Corporate deals

FG, Borno sign MoU for takeover and transformation of National Orthopaedic Hospital, Azare 

May 16, 2025
Mining Cadastre Office generates N10.9 billion in four months – DG 
Manufacturing

Mining Cadastre Office generates N10.9 billion in four months – DG 

May 12, 2025
Proposed 5% levy on companies for community project might lead to exits – Afrexim Bank
Business News

FG collected N6.9 billion mining fees across Nigeria in Q1 2025  – Dele Alake  

April 22, 2025
FG, States and LGAs share N1.35 trillion as FAAC allocation in June
Economy

FAAC: FG, States, LGs share lower February revenue of N1.678 trillion 

March 22, 2025
Proposed 5% levy on companies for community project might lead to exits – Afrexim Bank
Manufacturing

Dele Alake announces the arrest of 327 illegal mining suspects across Nigeria since 2024 

March 22, 2025
FG, ICPC sign MoU to strengthen transparency, accountability in health sector
Health

FG, ICPC sign MoU to strengthen transparency, accountability in health sector

March 17, 2025
Next Post
vocational training , UNLOCK initiative

FG plans to train 2000 individuals in vocational training through its UNLOCK initiative

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • AI-driven ID fraud surges in Africa as traditional scams decline – Report   
  • Latest Israel-Iran attacks could trigger fuel price increase in Nigeria – Analysts warn 
  • Report: Nigerian banks paying their staff less salaries compared to African peers, blames AMCON 

Follow us on social media:

Recent News

Banking Fraud

AI-driven ID fraud surges in Africa as traditional scams decline – Report   

June 13, 2025
UN Human Rights Commission warns of wider Middle East conflict amid Iran’s attack on Israel, seeks de-escalation  

Latest Israel-Iran attacks could trigger fuel price increase in Nigeria – Analysts warn 

June 13, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics