The Federal Government, through the Ministry of Solid Minerals Development, has approved about 499 licences for the buying and selling of solid minerals in Nigeria in 2023. 

This development was revealed by the Minister of Solid Minerals Development, Dele Alake, during his address as the keynote speaker at the BusinessDay Solid Minerals Conference in Abuja on Tuesday. 

A notable trend observed was the high demand for lithium, with 146 of the licences being allocated for its trade, surpassing other minerals such as gold (91 licenses), tin (46), and coal (32). The list also included tantalite, iron ore, kaolin, feldspar, beryl, barite, columbite, mica, and aquamarine licenses. 

He said: “The Ministry continues to facilitate the processing of applications for permits to refine minerals and to process and purchase. Last year, no fewer than 499 licenses were granted to applicants involved in the business of purchasing and sales of minerals. 

“Predictably, applications for the purchase and sale of Lithium topped the list with 146 licences, followed by Gold, 91; Tin, 46 and Coal, 32. Other minerals for which licences were granted include Tantalite, Iron Ore, Kaolin, Feldspar, Beryl, baryte, Columbite, Mica and Aquamarine.” 

He also disclosed that the Federal Government plans to hold about 25% of the N1 billion share capital of Nigerian Solid Minerals Corporation. 
He added that the process of creating the legislation for the institution has begun. 

Alake also said that the Nigerian citizens will by public shares hold 25% and private investors can acquire up to 10% of the remaining shares. 

He said: “Central to our efforts to reposition the sector is the establishment of a private-sector driven, Nigerian Solid Minerals Corporation. This is as the minister noted that the process of creating the legislation for the institution has begun. On February 12 and 13, 2024, the Solid Minerals Committee of the House of Representatives will hold the first policy dialogue on the proposed law to create the corporation. 

“In working with the legislature to establish the legal and legitimate foundation for the institution, our resolve to ensure that a share structure in line with a private sector- led strategy in which the Federal Government will hold not more than 25 per cent, the Nigerian citizens will, by public shares hold 25 per cent and private investors, each with a maximum of 10 per cent of the shares of the N1billion share capital, will be achieved.”

Posted by Imran Muhammed on X

Can we see the list of companies these licenses were awarded to including the names of the company shareholders?

Why are they hiding it?

Useless people.

Nice

Hehehe.

The caption should be, FG gave license to cronies to sell solid minerals .

They keep on selling these minerals without remittance to the federal government.

As we speak,they don't even have a data of the amount of solid minerals they have been selling in Nigeria. Anyways,this is Nigeria, anything goes.

Ok

Hi

This is one of the most corrupt ministries in Nigeria. Left with me, the trading license (buying and selling) of mineral resources should be abolished. How do they get the minerals they buy and sell without real mining occurring? Na illegal mining they mostly do and then move the minerals out legally with buying and selling licenses. And some even smuggle them out.

Left with me, only exploration and real mining licenses should be the only ones FG should start giving out. Trading license is a way to cheat the community they are illegally mining from. These crazy people would bribe the village head and destroy the whole place. No development are done in the mining areas. Then, they use these trading licenses to export their products. FG itself is so selfish. FG doesnt care about the development or the safety of the community these mad people are doing illegal mining. As long as FG gets its share of the little they presented, FG always shut up. Meanwhile these criminal always declare only around 5% of what they actually got from the sites. This is why Boko Haram flourishes in the north.

Thats what bandits are trading

Publish it and let's see. You will be surprise na politicians dem be shareholders

Ok

100% of Nigeria's Forbes billionaires are mineral billionaires. Enjoying the proceeds of our minerals and a system rigged to their favour.

gaby:
Can we see the list of companies these licenses were awarded to including the names of the company shareholders?

Why are they hiding it?

Useless people.

Expect that only when an opposition party tKes over the reims of power.

Good work Minister. Diversification is key

courage89:
Nice

Everything is nice one to you.

gaby:
Can we see the list of companies these licenses were awarded to including the names of the company shareholders?

Why are they hiding it?

Useless people.

Write a letter to the ministry and demand it.. everything doesn't make dem useless if u too take charge

To themselves na.

This country eh

Nice idea if they will indeed have a public sale of shares and give priority to small holding buyers like it was done in the past. Also the communities where the minerals are extracted from should benefit largely from their resources. At the end of the day, they bear the brunt of damage done. Apart from the oil sector which has oil spills which affect the people terribly, the Zamfara lead disaster is an example of what happens in the solid minerals sector.

gaby:
Can we see the list of companies these licenses were awarded to including the names of the company shareholders?

Why are they hiding it?

Useless people.

Na dem dem... Northern people. And if you know how cheap they sell those licenses... You go cry with deep sadness. They are sold below 200k in most states including the FCT

gaby:
Can we see the list of companies these licenses were awarded to including the names of the company shareholders?

Why are they hiding it?

Useless people.

You must criticize everything. Negativity is a curse, stop that curse.

PlanetZero:
Publish it and let's see. You will be surprise na politicians dem be shareholders

The only people doing any big things in Nigeria now are the politicians.

They have milked money from the circulation and access of common men.

Any legitimate business man or payed worker now is breathing hard.

Once chance chop I chop government

AnonPoet:


Posted by Imran Muhammed on X

Nigerian Solid Minerals Corporation... very good move by FG