The Federal Ministry of Solid Minerals Development, led by Dr. Dele Alake, has introduced new service rates to promote sustainability and competitiveness in the mining sector. The new fee structure includes significant increases for various permits and licenses, aiming to ensure equitable contributions from stakeholders.
The Honourable Minister of Solid Minerals Development, Dr. Dele Alake, has announced a new fee structure for services provided by the Ministry’s departments and agencies, aiming to boost the sector’s economic stability and international competitiveness. This initiative was presented during a press briefing at the Ministry’s headquarters in Abuja. Dr. Alake noted the need to adjust service rates, citing substantial government investments. He stressed that the new rates must be fairly aligned with the benefits derived from these services, further detailing that improvements in technical efficiency and infrastructure will enhance service quality. Key points of the new rates regime include: – Mining Lease: N3 million – Reconnaissance Permit: N300,000 – Exploration Licence: N600,000 – Small Scale Mining Licence: N300,000 – Quarry Lease: N600,000 – Water User Permit: N300,000 – Annual Service Fee: N31,500 per cadastral unit – Royalty rates doubled, with varied rates for specific minerals (e.g., N14,400 per tonne for Gold). Dr. Alake referenced successful initiatives such as the MinDiver Project and the introduction of the EMC+ portal, which improves application processes. The Ministry also plans to publicly share detailed rates on its website.
The announcement comes amid the Nigerian government’s efforts to fuel growth and sustainability within the mining sector. By adjusting service fees and penalties, the Ministry aims to create a more equitable system, ensuring all stakeholders contribute to the industry’s continued development.
The newly established rates by Dr. Alake reflect significant reforms intended to enhance the operational framework of Nigeria’s mining sector. By increasing fees and implementing advanced technology, the Ministry aims to promote efficiency and sustainability while responding to the investments made by the government.
Original Source: fmino.gov.ng