The NMCO reported that only 1,000 of the 7,141 issued mining licenses are active. DG Obadiah Nkom advocated for reforms in the sector citing funding issues despite generating significant revenue. Inadequate funding and illegal mining are significant concerns raised during a meeting with lawmakers.
Director General of the Nigeria Mining Cadastre Office (NMCO), Obadiah Nkom, has highlighted the alarming statistic that only 1,000 out of 7,141 mining licenses are currently active. During a meeting with the House Committee on Solid Minerals led by Jonathan Gaza, he called for reforms in the sector, especially regarding mining fees and ownership of titles. Despite generating over N8 billion in revenue, the NMCO struggles with inadequate funding. Nkom noted that the office has made strides in digitisation and is working with the Economic and Financial Crimes Commission to tackle illegal activities. Gaza expressed concerns over the licensing process and promised to relay the issues to the Minister of Solid Minerals Development for further action.
The Nigeria Mining Cadastre Office is responsible for regulating mining licenses in Nigeria. There has been a significant discrepancy between the number of issued mining licenses and the actual number of active mines, raising concerns about the effectiveness of the licensing process. The agency has generated substantial revenue from the sector, yet it faces challenges such as inadequate funding and the prevalence of illegal mining activities.
The discussion between NMCO leadership and the House Committee aims to address the underutilisation of mining licenses and seek necessary reforms. With a need for better funding and management of mining activities, the NMCO is striving to enhance transparency and efficiency in the Nigerian mining sector.
Original Source: gazettengr.com