Tinubu UK Visit: FG Uncovers Plot by Foreign Firm to Embarrass President Over Revoked Mining Licences
By: Abudu Olalekan
The Nigerian government isn’t mincing words right now. They say they’ve caught wind of a dirty little plan by some foreign mining outfit called Jupiter Ltd to drag President Tinubu’s name through the mud while he’s on that big state visit to the UK next year.
And honestly? It smells like a classic case of sore losers who got caught breaking the rules and now want to cry victim on the international stage.
Here’s the real story, straight from the Ministry of Solid Minerals Development. This Jupiter crowd (nobody here even knows them officially) is apparently linked to an Australian guy called Steve Davis. The man’s got his fingers in like six different Nigerian mining companies; Comet, Basin, Range, Northern Numero, Sunrise, Iron Ore… you get the picture. Classic speculator move: register local companies, grab licences, sit on them, flip them later, never actually dig anything.
Well, one of his fronts, Basin Mining Ltd, stopped paying the annual service fees. We’re talking over ₦2.4 billion owed for 2024 and 2025. After warnings they ignored, boom; licences revoked. Perfectly legal. Happens all the time when you don’t pay your bills.
But instead of settling the debt or challenging it quietly through the courts, they run to some foreign blogs screaming “Nigeria seized our British lithium project at gunpoint!” Total nonsense. First, there’s no company registered here called Jupiter Lithium. Second, Nigerian law flat-out says foreign companies can’t hold mining titles directly. Everybody knows that coming in.
The ministry’s spokesman, Segun Tomori, basically called it what it is: a desperate smear campaign timed to coincide with Tinubu’s trip to London in March 2026. First state visit by a Nigerian president in 37 years, King Charles hosting him at Windsor Castle, big moment for the country… and these guys want to turn it into a circus because one of their shell companies lost licences for not paying fees.
Look, I’ve watched this sector for years. Same old trick. Foreign speculator sets up a Nigerian company with local directors (sometimes just cousins or drivers), grabs prime lithium or gold licences, then tries to sell them off for millions without moving a single bulldozer. Meanwhile actual mining communities see zero benefit and illegal miners run wild on dormant sites.
Tinubu’s administration said enough is enough. Pay your fees or lose the licence. Simple. And now that the hammer’s finally dropping, the wailing starts.
They even threw in the tired “titles were given to a Chinese company” line. Complete fabrication. The licences just went back into the pool, ready for serious investors who’ll actually follow the rules.
Truth is, Nigeria’s cleaning house. New incentives are out there; tax holidays on equipment, 100% profit repatriation, the works. Serious players are taking notice, especially with lithium prices through the roof because of electric cars. But the days of parking licences and doing nothing are over.
The government’s message is crystal clear: come invest, follow the law, develop the mines, create jobs. Try to game the system or blackmail us when you get caught? Good luck.
They’re telling Nigerians and the international community to ignore the noise. This upcoming UK visit is about real deals, trade, security, investment; not some disgruntled speculator’s temper tantrum.
Funny thing; if these guys had just paid the ₦2.4 billion (peanuts compared to what those lithium licences are worth), none of this would be happening. Instead they chose drama.
Let them cry. The reforms are staying.
