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FG set to revoke licenses of non-performing miners

By BusinessNews Staff on May 14, 2014

The Federal Government has commenced the process that will lead to the revocation of licenses of non-performing miners across the country.

Vice President Namadi Sambo dropped the hint on Tuesday while receiving a delegation of the Dangote Group led by its chairman, Alhaji Aliko Dangote, at the Presidential Villa, Abuja.

A statement by his spokesman, Umar Sani, quoted the Vice President as saying that upon the revocation of such licenses, they would be advertised to attract more serious investors.

“The vice president also assured of government’s incentive to the private sector in the development of the mining sector particularly in coal mining, adding that arrangements were being made to cancel the licenses of underperforming miners while advertising same to the public to attract more serious investors,” the statement read.

He promised Federal Government’s incentive to the private sector in the development of the economy.

Sambo commended the Dangote Group for what he called its huge investment in sugar plantation in the country, saying that would go a long way in creating employment opportunities for millions of Nigerians.

He also lauded the firm on its plan to undertake concrete road projects which he described as good as it would remove the problems associated with routine maintenance.

He further assured the Group of government’s readiness to partner the private sector on a Public Private Partnership arrangement in capital projects, especially in the areas of infrastructural development.

Dangote pointed out that high profile mines in Nigeria had been licensed to those that do not possess the requisite capacity to develop them, saying the time frame given to develop them had since expired.

He added that the firm has entered into a partnership with Andre de Coulters, one of the leading companies responsible for about 44,000MW, about a third of Brazil’s power generation capacity.

He also said his firm had acquired about 260,000 hectres of land to develop sugar plantations in Adamawa and Taraba States while plans were underway to acquire more in Bauchi and Yobe States on the completion of the Kafin Zaki Dam.

He added that the firm was ready to partner government on a PPP basis to ensure its realisation.

He said others states were Jigawa and Sokoto states while about 56,000 hectares of land had also been acquired in Kebbi State and payment for compensation to those affected had commenced.

He noted that 50,000 hectares of land was also acquired in Kogi and Kwara State for the sugarcane plantation.

Dangote said the sugar plantation was planned to produce about 1.5million metric tonnes of sugar, Ethanol, bio-compost and animal feeds and would generate about 360MW which was above the firm’s requirements.

He said the firm would require about 240MW while the remaining 120MW would be transferred to the national grid for distribution to the host communities.

[Punch]

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