The Minister of Solid Minerals Development, Dr. Dele Alake, has announced plans to revoke 1,000 dormant mining licenses, in addition to the 900 licenses revoked in 2024.

 This decision was made to clean up the licensing system and ensure that mineral resources are used for national development.

The minister emphasized that the solid minerals sector is no longer a playground for opportunists but a driver of national industrial growth and continental leadership. 

The government is determined to position Nigeria as the steel hub of West Africa, anchored on local beneficiation, sustainable practices, and private-market partnership.

The Ministry of Solid Minerals Development is aligning its reforms to support the Ministry of Steel Development, recognizing that the steel value chain begins with mining. The government aims to transition Nigeria from exporting raw minerals and importing finished goods to using its mineral wealth to create jobs, technology, and national prosperity.

The National Steel Summit was held to appraise the current status of the industry, explore investment opportunities, identify policy and infrastructure gaps, and provide recommendations for a sustainable Nigerian steel industry.