FG to review mining license rates in Nigeria – Minister

FG to review mining license rates in Nigeria – Minister

The Federal Government, through the Ministry of Solid Minerals Development, has disclosed plans to review the rates of mining licences and other fees payable by mining operators in the country.This was disclosed in a statement signed by the Minister of Solid Minerals Development, Dele Alake’s Special Assistant on Media, Segun Tomori.Speaking during a consultative meeting with stakeholders, on Thursday in Abuja, the Minister stated that the plan would enhance the government’s capacity to reposition the mining sector effectively.He stressed that the review had become inevitable if the government was to effectively fulfil its obligations of providing an enabling environment for mining operations while raising more revenue.The Minister solicited the support of stakeholders for the impending increase in fees for mining licenses and other sundry fees.He further revealed that aside from the ongoing reforms, the administration was sanitizing the mining environment through the new mining regulations, made to protect legitimate miners and combat illegal mining.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.“We felt that we couldn’t just do this without letting you know because, invariably, you are the players in the industry.”The Minister also noted that the government followed due process in the recent revocation of dormant mining licenses.He pointed out that a 30-day restitution window still existed for operators that were affected.Recall that the minister announced a restitution fee of N10m, 7.5m, 5m and 2.5m for mining licenses, small-scale mining licences, exploration licence and quarrying licence respectively for revoked dormant licences including those earlier revoked for default in payment of annual service fees.Speaking on behalf of the stakeholders, the President of the Miners Association of Nigeria, Dele Ayanleke, commended the minister for his efforts in the mining sector, expressing support for ongoing reforms and plans to review fees payable by operators.He urged the minister to consider the challenges faced by miners and ensure the rates were affordable.

Source: FG to review mining license rates in Nigeria – Minister

 - NigerianEye
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