The Federal Government has collected N6.96 billion in mining fees and registered 118 new private mineral buying centres in the first quarter of this year.
Dele Alake, Minister of Solid Minerals Development, stated this at the second Annual Mining Conference organised by BusinessDay Media in Abuja, highlighting the Ministry’s efforts to raise awareness and attract investors.
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According to Alake, the mining fees were collected from 955 applications for title grants, including exploration, small-scale mining, quarrying, and reconnaissance permits.
The Ministry approved 867 applications, generating revenue from various fees, including annual service fees and application processing fees.
The Minister also noted the plans to establish the Nigerian Solid Minerals Corporation, a special-purpose vehicle that will catapult Nigeria into the league of global mining players. The Corporation will be globally competitive, with Nigerians having the opportunity to invest through a public offer.
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Alake highlighted the impact of international engagements, citing commitments from the French Government to equip the Nigeria Geological Survey Agency’s laboratory and train young geologists abroad. He also stated the partnerships with Western Australia, Britain, and Saudi Arabia to invest in Nigeria’s mining sector.
The Minister attributed the Mknistry’s success to its value addition policy, which had enhanced local beneficiation and positioned Nigeria as a leader in African mining countries. He announced plans to inaugurate lithium, bauxite, and gold refining plants this quarter.
