The Nigeria Mining Cadastral Office (MCO), under the leadership of Director-General Obadiah Nkom, reported a revenue generation of N8.1 billion since January. This achievement was shared during an oversight visit from the Senate Committee on Solid Minerals, highlighting a commitment to improving the mining sector’s regulatory framework and diversifying the economy. The D-G credited the rise in revenue to increased transparency, stronger enforcement of regulations, and the digitalisation of licensing processes. Since the office’s inception, total revenue has reached N36.048 billion, with a significant portion remitted to the Federal Government’s Treasury Single Account. In addition, the committee discussed key challenges faced by the cadastre, including inadequate funding and limited office space, as well as ongoing litigations that have reportedly been successful for the MCO. Senator Sampson Ekong emphasized the importance of the committee’s oversight to ensure accountability and enhance the mining sector’s economic contribution. The visit focused on evaluating the cadastre’s adherence to regulatory standards and operational efficiency.

The Nigeria Mining Cadastral Office is responsible for overseeing mining licenses and permits within the country. Recently, the MCO has experienced a notable revenue increase, reflective of Nigeria’s efforts to enhance its mining sector’s regulatory framework. The visit by the Senate Committee aims to address operational challenges while ensuring the cadastre complies with federal guidelines. Successful litigation by the MCO also highlights its effective operational measures.

The Nigeria Mining Cadastral Office has experienced a significant revenue milestone, generating N8.1 billion through improved transparency and regulatory measures. The Senate Committee’s oversight visit aims to enhance operational efficiency and accountability within the mining sector. Despite facing challenges like inadequate funding and office space, the MCO continues to successfully navigate litigations, emphasising the need for sustainable reforms and collaboration in maximising Nigeria’s mining potential.

Original Source: nannews.ng

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