The Federal Government has announced an increase in rates and charges across all activities in the mining sector.
This move aims to enhance service levels, boost transaction traffic, and develop infrastructure.
Dele Alake, Minister of Solid Minerals Development, revealed this in Abuja, expressing concerns about non-remittance by some operators.
He criticized mining companies for making significant profits without paying the appropriate taxes.
“Today, we are taking a major step in implementing the seven-point agenda,” Alake stated. “We are introducing a new regime of rates and charges to position the sector for economic consolidation.”
Alake highlighted the successful implementation of the Mineral Sector Support for Economic Diversification Project (MINDIVER). This project underscores the qualitative measures recently introduced to improve the sector.
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The Minister also noted that the Mining Cadastral Office (MCO) had acquired a new mining information system, the Electronic Mining Cadastre System (EMC+ portal).
This system facilitates 24-hour application and administration, enhancing transparency and accelerating access for applicants.
Furthermore, the Nigerian Geological Survey Agency (NGSA) has developed an integrated base data accessible to the public, which is expected to attract more interest and boost participation in the mining sector. Alake believes these initiatives will instill confidence in stakeholders and encourage further investment.
