The Ministry of Solid Minerals Development, under the auspices of the Federal Government, has announced its intention to review the rates of mining licenses and other associated fees payable by mining operators in Nigeria. This decision, communicated during a consultative meeting with stakeholders in the mining industry in Abuja, aims to optimize revenue generation for the government while fostering a conducive environment for mining operations.
Minister of Solid Minerals Development, Dele Alake, emphasized the necessity of the review to enable the government to fulfill its obligations of providing an enabling environment for mining activities effectively. Alake highlighted the plan’s potential to bolster government capacity in repositioning the mining sector and sought stakeholders’ support for the impending fee adjustments.
In addition to ongoing reforms, the administration is actively sanitizing the mining environment through the introduction of mining marshals. These marshals are tasked with safeguarding legitimate miners and combating illegal mining activities across the country.
The Minister assured stakeholders that the recent revocation of dormant mining licenses followed due process and existing laws. Operators affected by the revocation have a 30-day window for restitution, with prescribed fees based on the type of license revoked.
Engr. Obadiah Nkom, Director-General of the Mining Cadastral Office and chair of the fees review committee, highlighted the committee’s recommendation of new rates aimed at enhancing the competitiveness of the fiscal regime in the mining sector, aligning with regional and global standards.
Representatives of various mining associations, including the Miners Association of Nigeria, expressed support for the Minister’s efforts to position the mining sector on the global stage. They urged the government to consider the challenges faced by miners and ensure that the revised rates remain affordable.