Speaking at the opening of the maiden National Steel Summit, Alake said the move follows the 900 licences already cancelled in 2024 to rid the sector of speculators.
The Federal Government will soon revoke an additional 1,000 dormant mining licences, Minister of Solid Minerals Development, Dr Dele Alake, announced on Wednesday in Abuja.
Speaking at the opening of the maiden National Steel Summit, Alake said the move follows the 900 licences already cancelled in 2024 to rid the sector of speculators.
“To clean up our licencing system, I had to revoke over 900 licences which had become tools in the hands of speculators. Very shortly, I am going to announce another over 1,000 licences that will be revoked,” he stated.
He emphasised that the sector would serve as a driver of industrial growth, anchored on local beneficiation, sustainable practices, and private-sector partnerships, adding that reforms were aligned with the Ministry of Steel Development to strengthen the value chain.
Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said the government was accelerating industrialisation through targeted reforms, special economic corridors, and infrastructure to integrate Nigeria’s steel industry into global value chains.
Also, Minister of Steel Development, Shuaibu Audu, described steel as the backbone of industrialisation, noting its role in construction, automotive, electronics, and defence.
The summit aims to assess industry status, address policy gaps, explore investment opportunities, and foster collaboration for a sustainable steel industry.