In an effort to improve the mining industry in the country, the Federal Government, through the Ministry of Solid Minerals Development, has announced its intention to reassess the rates of mining licenses and various fees payable by mining operators.
During a consultative meeting with stakeholders in the mining sector in Abuja, the Minister of Solid Minerals Development, Dele Alake, emphasized the necessity of the review for the government to create a conducive environment for mining activities while also increasing revenue.
The Minister highlighted the importance of the plan in enhancing the government’s capacity to revitalize the mining sector and sought the support of stakeholders for the anticipated adjustments in fees.
In addition to ongoing reforms, the Minister disclosed efforts to clean up the mining environment through the introduction of mining marshals, tasked with safeguarding legitimate miners and combating illegal mining operations.
In a statement released by his special assistant on media, Segun Tomori, the Minister stated, “To ensure that we continue to secure the mining environment and implement measures to alleviate the operational challenges faced by miners, we are planning to revise the rates of mining licenses and other fees.
“We believe that it is essential to involve you in this decision-making process because you are key players in the industry.”
Addressing the recent revocation of dormant mining licenses, the Minister affirmed that the government followed due process and existing laws, emphasizing the existence of a 30-day window for affected operators to seek restitution.
Notably, the Minister announced restitution fees of N10m, 7.5m, 5m, and 2.5m for Mining Leases, Small Scale Mining Licenses, Exploration Licenses, and Quarrying Licenses respectively, for dormant licenses that were revoked due to default in payment of annual service fees.
The Director-General of the Mining Cadastral Office, Engr. Obadiah Nkom, who chairs the fees review committee, mentioned that the committee recommended new rates aimed at promoting affordability and enhancing the competitiveness of the fiscal regime in comparison to global standards.
Speaking on behalf of the stakeholders, the President of the Miners Association of Nigeria, Dele Ayanleke, praised the Minister for his efforts in advancing the mining sector globally, expressing support for the ongoing reforms and fee review plans.
He urged the Minister to consider the challenges faced by miners and ensure that the revised rates are within reach.
Among the attendees were representatives from Women In Mining, Gemstone Miners Association, and senior officials from the ministry.