The Federal Government is set to review the rates of mining licenses and other fees payable by mining operators in Nigeria. Minister of Solid Minerals Development, Dele Alake, disclosed this during a consultative meeting with stakeholders in the mining industry in Abuja.
Alake emphasized the need for the review to boost the government's capacity to reposition the mining sector effectively. He stated that the increase in fees is necessary for the government to provide an enabling environment for mining operations and to raise more revenue.
The Minister solicited the support of stakeholders for the impending fee increase, noting that their input is crucial as they are the key players in the industry. He also clarified that the recent revocation of dormant mining licenses followed due process and that a 30-day restitution window exists for affected operators.
As part of the restitution process, a fee ranging from N10 million to N2.5 million has been announced for various types of revoked licenses. Alake highlighted ongoing efforts to reposition the mining industry, including the deployment of mining marshals to protect legitimate miners and combat illegal mining.
The Director-General of the Mining Cadastral Office, Engr. Obadiah Nkom, stated that the committee recommended new rates that are affordable and competitive compared to global standards. President of the Miners Association of Nigeria (MAN), Dele Ayanleke, expressed support for the reforms and urged the Minister to ensure that the new rates are affordable, considering the challenges faced by miners.
Stakeholders in attendance at the meeting included representatives from the Miners Association of Nigeria (MAN), Women in Mining (WIN), Gemstone Miners Association (GMA), and top officials of the Ministry of Solid Minerals Development.
