News
Digging For Naira: FG’s Bold Plan To Rake In More Mining Revenue
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Nigerian govt plans mining license fee review
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Aims to raise revenue, restructure mining sector
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Stakeholders consulted on proposed fee increase
Eko Hot Blog reports that the Nigerian government, through the Ministry of Solid Minerals Development, has unveiled plans to increase mining license fees and other charges payable by operators in the country.
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Moreover, Solid Minerals Minister Dele Alake stated that the review is necessary to provide an enabling environment for mining while raising more revenue.
Additionally, Alake said the move will enhance the government’s ability to effectively restructure the mining sector, urging stakeholders to support the planned fee hike.
Furthermore, he highlighted ongoing efforts to clean up the mining landscape through the newly established mining marshals operating in some areas.
Dele Alake
In a statement, Alake said, “For us to continue to ensure that we secure the mining environment and keep putting in place measures that will ease the operational difficulties and challenges that confront miners, we need to review the rates of mining licenses and other sundry fees.”
However, the Minister clarified that the recent cancellation of dormant mining licenses was done in accordance with due process and existing legislation.
Similarly, the Director-General of the Mining Cadastral Office, Engr. Obadiah Nkom, stated that the fees review committee recommends new reasonable rates to improve the fiscal position of the mining sector.
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Consequently, the President of the Miners Association of Nigeria, Dele Ayanleke, commended the Minister’s efforts to boost the mining sector while expressing support for ongoing reforms and the proposed fee review.
Nonetheless, Ayanleke urged the Minister to consider the challenges faced by miners and ensure the rates are affordable.
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