The Federal Government of Nigeria is actively pursuing global mining partnerships to enhance the country’s economy. This commitment was highlighted in a recent statement by Mr. Mohammed Manga from the Ministry of Finance, following Dr. Doris Uzoka-Anite’s presentation at the Future Minerals Forum in Riyadh. She stressed Nigeria’s resource wealth and the government’s eagerness to collaborate internationally to stimulate growth and promote investment in the minerals and energy sectors.

Dr. Uzoka-Anite invited global investors, pointing to Nigeria’s rich resource base and focus on sustainability and innovation as a means to position the country as a leader in the global mining landscape. She underscored that establishing strong partnerships could enhance Nigeria’s economic position and attract considerable investments. This effort aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda for growth in mining and energy.

Participation in the Future Minerals Forum underlines Nigeria’s commitment to attract foreign investments while promoting sustainable practices in mining. However, the Nigeria Mining Cadastre Office disclosed that less than 1,000 of the approximately 7,000 issued mining licenses are active. Despite generating considerable revenue, the NMCO faces funding challenges that impede its operations, including inadequate capital budgets for mining.

Minister Dr. Dele Alake voiced concerns over the scant N9 billion allocated in the 2025 capital budget for mining. While past reforms successfully created 45,000 jobs and increased revenue significantly, he warns that such limited funding may obstruct further exploration investments. The ministry initially proposed over N531 billion for capital expenditure but received only a fraction of that amount.

The article discusses Nigeria’s strategy to strengthen its economy through global mining partnerships. It highlights the government’s commitment to leverage the nation’s vast mineral resources, attract international investment, and drive innovative practices within the mining sector. The engagement at the Future Minerals Forum showcases Nigeria’s intent to enhance its position in the global minerals landscape and reflects ongoing challenges in funding and operational capacity within the mining sector.

The Nigerian government is keen on fostering global mining partnerships to invigorate its economy, with emphasis on sustainable practices and significant foreign investment. Despite generating substantial revenue, the mining sector faces operational challenges due to inadequate budget allocations. The participation in the Future Minerals Forum positions Nigeria strategically to engage potential investors while addressing existing funding concerns remains critical for unlocking the country’s mining potential.

Original Source: nairametrics.com

The post Nigeria Pursues Global Mining Partnerships to Enhance Economic Growth first appeared on Nigerian Mining News.

The Nigeria Mining Cadastre Office (NMCO) has teamed up with the Department of State Security (DSS) to enhance its staff’s skills in cybercrime security. Director General Engr Obadiah Nkom emphasised the urgency of this initiative due to the increasing necessity to secure NMCO’s cyberspace based on its activities and international engagements. He urged staff to follow the prescribed disciplinary training guidelines strictly.

Nkom highlighted the significance of NMCO’s transition to a web-based system via the launch of the electronic Mining Cadastre Plus (eMC+), which facilitates efficient application processing for Mineral Titles. He underscored the growing number of online applications since its launch in November 2022, stressing the need for users to remain vigilant against cyber threats.

The partnership between NMCO and DSS focuses on improving the agency’s cyber security measures, reflecting a broader trend of increasing awareness regarding digital threats in governmental operations. As more services move online, particularly in sensitive areas like mineral rights and titles, the risk of cyberattacks rises, necessitating improved security protocols and staff education.

The NMCO’s collaboration with the DSS marks a crucial step towards enhancing cyber security within governmental operations related to mining. By focusing on staff training in cyber awareness and reinforcing ethical accountability, NMCO aims to safeguard its online systems and support transparency and efficiency in the mineral sector’s operations.

Original Source: www.thisdaylive.com

The post NMCO Partners with DSS to Enhance Cybercrime Security Training first appeared on Nigerian Mining News.

In October 2024, the Nigerian Mining Cadastre Office (NMCO) generated an impressive revenue of N8,199,976,300, as reported by the Director General, Engr. Obadiah Nkom, during a Senate oversight visit led by Senator Sampson Ekong. Since its inception, NMCO has amassed N36,048,229,019 in total revenue, with 75% of this amount—N26,230,733,463—generated between 2019 and October 2024. The agency’s revenue has seen a significant increase due to reforms aimed at enhancing transparency and digitising operations. Despite these accomplishments, NMCO faces challenges, including funding shortages, office space constraints, and insufficient power supply, which hinder operational efficiency. Senator Ekong acknowledged the visit’s value, noting a commitment to addressing these challenges to bolster Nigeria’s mining sector.

The Nigerian Mining Cadastre Office (NMCO) plays a crucial role in regulating the country’s mining activities and managing revenues generated from mineral licensing. The trending growth in revenue reflects the agency’s improved operational practices, including digital transformations and transparency initiatives, which have collectively enhanced revenue collection. However, operational obstacles must be addressed to maintain this revenue momentum and ensure the agency’s sustainability and productivity in the mining sector.

The NMCO’s recent revenue achievements underscore the agency’s successful reforms and potential for future growth in Nigeria’s mining sector. Nevertheless, addressing operational challenges such as funding, infrastructure, and personnel shortages remains vital for sustaining and increasing productivity. The commitment from legislative bodies to support NMCO will also be crucial in overcoming these hurdles and enhancing the agency’s contribution to the national economy.

Original Source: nairametrics.com

The post NMCO Reports N8bn Revenue in October 2024 Amidst Operational Challenges first appeared on Nigerian Mining News.

The Nigeria Mining Cadastre Office (NMCO) has raised concerns over the inadequate capacity of some mining title holders, particularly those holding multiple cadastral units. This issue, highlighted by NMCO Director General Dr Obadiah Nkom during the ninth Nigeria Mining Week in Abuja, is hindering genuine investors’ entry into the mining sector. To rectify this, a new mining regime was introduced in July, focusing on competent operators and adhering to a ‘first come, first served’ principle. Nkom noted improvements, including increased investment and the cancellation of unused licenses, affirming NMCO’s role in promoting responsible mineral resource management and supporting Nigeria’s economic diversification strategy.

The challenges faced by mining title holders in Nigeria are crucial for understanding the landscape of the mining sector. The NMCO is responsible for managing mineral rights in the country, aiming to attract investment and ensure sustainable resource management. The introduction of a new mining regime indicates an effort to address the gaps in capacity and effectively allocate titles to operators who can develop them, thereby bolstering the sector’s contribution to economic growth. This situation is particularly relevant as Nigeria seeks to diversify its economy.

The NMCO’s initiatives reflect a strategic move towards enhancing the capacity and accountability of mining title holders in Nigeria. By implementing a new regime that prioritises capable operators and the productive use of mining titles, the agency aims to attract genuine investment, ensure compliance, and contribute significantly to the nation’s economic ambitions. Ongoing improvements signal a promising future for the mining industry in Nigeria.

Original Source: nannews.ng

The post NMCO Raises Alarm Over Mining Title Holders’ Capacity Issues 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.