FG moves to curb revenue leakages in mining sector with new data template

The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), in partnership with the Federal Ministry of Solid Minerals Development, has unveiled a new solid minerals data rendition template designed to improve revenue tracking, transparency, and accountability in Nigeria’s mining sector.

The initiative was formally launched on Tuesday during a one-day sensitisation exercise held in Abuja.

The event brought together government officials, industry regulators, and key stakeholders to discuss how the new system would help plug revenue leakages and strengthen oversight in the solid minerals value chain.

Muhammed Shehu, Chairman of RMAFC, who was represented by the Chairman of the Solid Minerals Monitoring Committee, said the new template aligns with President Bola Tinubu’s Renewed Hope Agenda to diversify Nigeria’s revenue base beyond crude oil.

“The implementation of the new data rendition template could not have come at a better time, given the current economic realities the country is facing.

“The need to diversify our national revenue sources cannot be overemphasised, especially considering the nation’s over-dependence on hydrocarbon revenues, which are often affected by fluctuations in the international oil market, as well as challenges such as crude oil theft and vandalism”, Shehu said.

According to him, the new template is expected to capture key operational and financial details from mining companies, including the quantity of minerals produced, company profiles and locations, licenses, fees, and permits paid.

This, he said, would enable the Commission to effectively monitor, evaluate, and ensure that all revenues due to the Federation Account are promptly remitted.

Shehu recalled that the Commission had previously conducted two nationwide monitoring exercises in 2016 and 2022, which led to a significant improvement in revenue generation from the mining sector.

However, he expressed concern that despite the increasing level of mining activities in the country, remittances to the Federation Account remain low due to weak oversight mechanisms.

“The Commission under my leadership will work assiduously to ensure that all revenues due to the Federation Account from the mining sector are fully and promptly remitted,” he assured.

In his remarks, Ibrahim Shettima, Chairman of the Solid Minerals Monitoring Committee and Federal Commissioner representing Niger State, said the sensitisation exercise was aimed at closing gaps in data collection and strengthening coordination among relevant agencies and operators.

He noted that the new template would help build a reliable, independent database for the Commission, serving as a credible reference for policy formulation and performance comparison across states.

“Accurate and timely rendition of revenue data is crucial for planning, policy decision-making, and ensuring transparency in the sector,” Shettima added.

Other speakers, including Imam Ganiu, Director of Mining Inspectorate at the Ministry of Solid Minerals Development; Obadiah Nkom, Director-General of the Mining Cadastre Office; and Segun Ayanleke, President of the Miners Association of Nigeria, all acknowledged Nigeria’s vast potential in the global mining industry.

They emphasised the need for consistent policy implementation and stronger collaboration between government and private stakeholders to unlock the sector’s full potential.

According to a statement by Maryam Umar Yusuf, Head, Information and Public Relations, RMAFC, the event featured paper presentations on topics such as “Overview of the Global and Nigerian Mining Sectors,” “Revenue Assessment through Data Rendition,” and “Functions and Activities of the Mining Cadastre Office (MCO)”.