The Nigeria Mining Cadastre Office (NMCO) has issued a total of 7,141 mining licenses; however, only about 1,000 of these are currently active, as revealed by Director General Obadiah Nkom. During a recent meeting with the House Committee on Solid Minerals, Nkom stressed the need for reforms in the sector, specifically in relation to mining fees and title ownership, due to the alarming number of inactive licenses. He noted that despite generating over N8 billion in revenue, the agency suffers from inadequate funding which restricts its operational effectiveness. Nkom further mentioned the successful transition to a web-based platform for improved access and transparency and the development of guidelines for an anti-money laundering unit in partnership with the EFCC. The committee, led by Chairman Jonathan Gaza, raised concerns about the licensing process, the impact of illegal mining, and the need for increased productivity due to insufficient funding. Gaza assured that the committee would escalate these issues to the Minister of Solid Minerals Development for necessary action.

The issue of inactive mining licenses in Nigeria highlights significant inefficiencies within the Nigeria Mining Cadastre Office (NMCO). Despite the issuance of over 7,000 licenses, the minimal number of active miners underscores a need for regulatory reform. Inadequate funding and concerns about illegal mining practices also pose challenges for the agency. This situation calls for improved oversight and potential restructuring in the mining sector to enhance productivity and revenue generation.

In summary, the NMCO faces challenges with a high volume of inactive mining licenses against a backdrop of inadequate funding and the prevalence of illegal mining. The agency’s call for reforms and better financing highlights the critical need for a more effective licensing and oversight system to improve the sector’s contribution to Nigeria’s economy. The committee’s commitment to addressing these issues with the Minister of Solid Minerals Development is a positive step towards enhancing operational efficiency.

Original Source: nannews.ng

The post Only 1,000 of 7,141 Mining Licenses Active, Says NIMCO Director General first appeared on Nigerian Mining News.

The Nigeria Mining Cadastre Office (NMCO) has issued around 7,000 mining licenses, yet fewer than 1,000 mines are currently operational. NMCO’s Director General, Obadiah Nkom, made this revelation during a meeting with the House Committee on Solid Minerals. He stressed the need for reform in licensing fees and ownership regulations to improve the sector. Despite generating over N8 billion in revenue, NMCO faces funding shortages that hinder its effectiveness. Nkom also highlighted progress in digital accessibility and collaborations with the Economic and Financial Crimes Commission to combat illegal mining. Meanwhile, Chairman Jonathan Gaza acknowledged the issues in licensing and confirmed that steps will be taken to address the agency’s financial constraints.

The article discusses the operational challenges faced by the Nigeria Mining Cadastre Office (NMCO) despite a high number of issued mining licenses. NMCO, which operates under the Federal Ministry of Solid Minerals Development, seeks to reform the licensing process and improve fund allocation. Illegal mining activities remain a concern, prompting both the NMCO and government officials to explore measures that enhance compliance with mining regulations and strengthen monitoring operations through technology.

In summary, the NMCO’s struggle with high licensing numbers versus active mines highlights significant inefficiencies in the Nigerian mining sector. Calls for funding reforms and improved regulation are crucial to combat illegal mining activities. Collaboration with authorities and the move towards digital solutions are steps being considered to enhance transparency and operational effectiveness in the field.

Original Source: nairametrics.com

The post Concerns Rise as Nigeria Issues 7,000 Mining Licenses with Only 1,000 Active Mines first appeared on Nigerian Mining News.

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

The post NMCO Director General Advocates Reform for Underutilised Mining Licences first appeared on Nigerian Mining News.