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The Federal Government, through the Ministry of Solid Minerals Development, has announced plans to revise the rates of mining licenses and associated fees paid by mining operators across Nigeria.
This move aims to enhance the government’s capacity to revitalize the mining sector effectively.
During a consultative meeting with stakeholders in the mining industry, Minister Dr. Dele Alake emphasized the necessity of this review, highlighting the need for an enabling environment for mining operations and increased government revenue.
He also solicited stakeholder support for the impending fee increase, underscoring its inevitability.
The Minister addressed concerns about recent license revocations, affirming adherence to due process and extant laws, while providing a 30-day restitution window for affected operators.
Engr. Obadiah Nkom, Director-General of the Mining Cadastral Office and chair of the fees review committee, outlined the committee’s recommendations aimed at fostering affordability and enhancing the competitiveness of the mining sector’s fiscal regime.
The President of the Miners Association of Nigeria (MAN), Dele Ayanleke, commended the Minister’s efforts to elevate the mining sector globally.
Expressing support for ongoing reforms and the proposed fee review, Ayanleke urged consideration of miners’ challenges to ensure affordability.
The consultative meeting witnessed participation from various stakeholders, including representatives from Women In Mining (WIN), Gemstone Miners Association (GMA), and top ministry officials, signifying a collaborative effort towards revitalizing Nigeria’s mining sector.
