Nigeria’s Mining Sector Faces Imminent Fee Hike
The Nigerian government has announced its intention to increase mining licence fees and other charges for operators in the country’s mining industry. This decision was communicated by Dr. Dele Alake, the minister of solid minerals development, during a consultative meeting with industry stakeholders. The proposed fee hike is part of the government’s efforts to strengthen the mining sector.
According to a statement from Segun Tomori, the minister’s special assistant on media, Dr. Alake emphasized the ongoing initiatives to reposition the mining industry. He also introduced the newly established Mining Marshals, deployed to safeguard legitimate miners and crackdown on illegal mining activities.
Dr. Alake called on stakeholders to support the impending increase in mining licence fees and other charges, underscoring the need to create a conducive environment for mining operations and generate additional revenue for the government. He recognized the importance of consulting industry players before implementing such changes.
In response to the recent revocation of dormant mining licences, the minister assured that due process and existing laws were followed, and affected operators still have a 30-day restitution window to address the situation. The restitution fees for the revoked dormant licences were also disclosed.
Engr. Obadiah Nkom, the director-general of the Mining Cadastral Office and chairman of the fees review committee, stated that the committee recommended new rates that are affordable and will enhance the competitiveness of the fiscal regime of the mining sector in comparison with regional and global standards.
Dele Ayanleke, President of the Miners Association of Nigeria (MAN), expressed support for the ongoing reforms and plans to review fees payable by operators, while urging the minister to consider the challenges faced by miners and ensure that the new rates are reasonable.
The meeting was attended by a diverse range of stakeholders, including representatives of Women In Mining (WIN), Gemstone Miners Association (GMA), top officials of the ministry, and others.
Title: Proposed Fee Hike for Nigeria’s Mining Industry
Content:
Nigeria’s mining sector is on the brink of a significant change as the government plans to raise mining licence fees and other charges. This move, announced by Dr. Dele Alake, the minister of solid minerals development, is intended to bolster the government’s capacity to revitalize the mining sector. During a consultative meeting with stakeholders in the mining industry, Dr. Alake emphasized the importance of the proposed fee hike and urged support from industry players.
The government is also working towards repositioning the mining industry through the introduction of the Mining Marshals, aimed at protecting legitimate miners and combating illegal mining activities. The consultation with industry stakeholders comes at a crucial time as the government seeks to make the mining sector more conducive for operations while increasing revenue generation.
In addition to addressing the fee hike, the minister also clarified the recent revocation of dormant mining licences, ensuring that due process was followed and affected operators have a 30-day window for restitution. The restitution fees for the revoked dormant licences were also revealed. The proposed new rates have been carefully considered to ensure they are competitive with regional and global standards in the mining sector.
Stakeholders, including the Miners Association of Nigeria (MAN) and representatives from Women In Mining (WIN) and the Gemstone Miners Association (GMA), voiced their support for the ongoing reforms and plans to review fees payable by operators. Their input emphasized the importance of ensuring that the new rates are reasonable and take into account the challenges faced by miners. This collaborative effort between the government and industry players reflects a commitment to the sustainable growth and development of Nigeria’s mining sector.
