FG collects N6.5 billion of minerals, 118 registers purchase centers – Thage

The federal government has collected N6.957.826,200 mining taxes and recorded 118 new purchase centers of private minerals in the first quarter of this year.

Giving the details to the second annual mining conference organized by the Businessday newspaper in Abuja on the weekend, the Minister of Development of Solid Minerals, dr. Dele Alake, said that revenues reflect the result of the ministry’s efforts to increase awareness and attract investors.

The mineral expenses collected by the Cadastral Office of MCO, MCO, MCO, came from Licensing Parastal Mining. Six hundred and fifty -one were for exploration, 270 for small -scale extraction, 49 for the quarry and 24 for reconnaissance permits. The minister approved 867 questions, including 512 exploration licenses, 295 small -scale mining lease contracts, 60 quarter leasing and 5 mining leasing.

Revenues come from the payment of various commissions, including annual service commissions, questions for applications and renewal of securities.

The MCO has also intensified the resolution of conflicts to reduce the petitions deriving from the overlap and litigation on the property.

Dr. Alake revealed that the Ministry has recorded many progress in the plans to establish the Nigerian Solid Minerals Corporation.

To make its structure a real vehicle for special purposes that will catapult Nigeria to the League of global mining players.

Speaking on the topic, “building a resilient mining sector”, said that the company will be competitive globally and rooted in Nigerian competence and capital.

*We are finalizing its structure in collaboration with the Ministry of Finance Incorporated (Mofi). The Nigerians will have the opportunity to invest through a public offer, with 25% equity reserved for citizens, 25% for the government and 50% for the private sector, “said the minister.

He marked the ministry at the top of the revenue generation, citing how he exceeded the expected revenue of 2024 of n11 billion from n27 billion to n38 billion.

Highlighting the impact of international commitments, Alake revealed that the French government has committed to equip itself to equip the Nigeria Geological Survey Agency (NGSA) laboratory and train young geologists abroad in modern mining technologies in the wake of the memorandum of understanding signed by President Bola Tinubu and French President, Emmanuel Macron.

“The government of Western Australia has recently approved the regular formation of the professionals of the Nigerian mines and the first batch of trainees is invoiced to leave next month. British and Saudi Arabic investors are gathering to invest in all the mineral value chain and a few days ago, we signed a protocol of understanding on the ability to build in the field of geology with South Africa”, added Dr. Alake.

By citing the impact of his policy of adding value, the minister said he improved local charity and positioned Nigeria as an indisputable leader of the African mining countries.

He said: “Nigeria emerged as pioneer president of the African mineral strategy group (AMSG) based on our defense for the addition of value and the inconsiderate export opposition of raw minerals without elaborating or perfecting a little lithium, and gold is to exploit this golden position and gold and gold and gold is to attract this position of gold and the gold and the gold is to exploit this quarter.

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