Leadership (Abuja)
Kingsley Alu and Blessing Uduehi
7 November 2009
Abuja — As parts of the reform agenda of the present administration within the Mining Sector, the Federal Government has commenced the issuance of mineral titles to the successful mineral title holders with a view to making the nation's mining sector more competitive with other mining destinations around the world and to attract foreign direct investments to the country.
The minister of Mines and Steel Development, Mrs. Diezani Alison - Madueke made the disclosure while presenting the Mineral Title document to successful companies and briefing journalists on the completion of the revalidation of mineral titles issued under the Nigerian Minerals and Mining Act of 2007 . The Minister said a revalidation committee with the Permanent Secretary of the Ministry as Chairman, was constituted to assess all mineral titles issued under the Nigerian Minerals and Mining Act of 2007. She added that the revalidation committee ensured a complete compliance with the requirements of the law in the revalidation exercise which include the following: commitment to minimum work obligations; notice to Land Owner and Occupiers; consent from Land Owner and Occupier, specifying minerals to be explored or exploited; financial capability, technical ability; survey of area (for leases) while the provisions of Nigerian Minerals and Mining Act, 2007 was enforced on the title holders who fail to provide the necessary requirements.
Mrs. Alison - Madueke said at the close of submission of document for revalidation assessment, a total of 737 operations responded out of which 489 titles were successfully revalidated; 29 titles were provisionally revalidated. 49 titles which were under assignment would be subjected to further processing while 832 titles were unsuccessful and were therefore not revalidated. The Minister said with the revalidation process, the mining sector would be rid of speculators, while only genuine investors with the necessary competence would be allowed to operate in the sector.
According to her, "the process has therefore cleaned the sector of speculators and allowed only genuine investors with the necessary competence to operate". Madueke added that the revalidation of mineral titles which had hitherto posed a major challenge to the operators in the mining sector has been summounted , stressing that this process would attract major international investors into the sector. She reiterated the President Umaru Yar'Adua-led administration's sustained commitment to the development of the nation's mining sector which would contribute significantly to the Gross Domestic Product of the country , the actualisation of the present administration's Seven Point Agenda, and the nation's quest to be among the 20 largest economies by the year 20-2020.
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