Ministry of Solid Minerals Development, on behalf of the Federal Government, has announced its intention to review the rates of mining licences and other fees payable by mining operators in Nigeria.
Gatekeepers News reports that the move is aimed at boosting the government’s capacity to revamp the mining sector and fulfill its obligations of providing an enabling environment for mining operations while generating more revenue.
Speaking during a consultative meeting with stakeholders in Abuja, the Minister of Solid Minerals Development, Dele Alake emphasized the need for the review and solicited the support of stakeholders for the impending increase in fees.
He also disclosed that the government is implementing new mining regulations 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.
