The Federal Government has announced its intention to revise the rates of mining licenses and other fees payable by mining operators in Nigeria which be unveil soon.
This decision was disclosed by the Minister of Solid Minerals Development, Dele Alake, during a consultative meeting with stakeholders in the mining industry in Abuja.
Alake emphasized that the revision of rates is essential to enhance the government’s capacity to effectively reposition the mining sector. He highlighted that the review is necessary for the government to fulfill its obligations of providing a conducive environment for mining operations and also to generate more revenue.
The minister sought the support of stakeholders for the impending increase in fees for mining licenses and other related charges.
“For us to continue to ensure that we secure the mining environment and keep putting in place measures that will ease the operational difficulties and challenges that confront miners, we need to review the rates of mining licenses and other sundry fees. We felt that we can’t just do this without letting you know because invariably, you are the players in the industry, “ Alake said.
Explaining the recent revocation of dormant mining licenses, the minister clarified that the government followed due process and adhered to existing laws. He highlighted the availability of a 30-day window for affected operators to seek restitution.
Alake announced specific restitution fees for revoked licenses: N10 million for Mining Leases, N7.5 million for Small Scale Mining Licenses, N5 million for Exploration Licenses, and N2.5 million for Quarrying Licenses. These fees also apply to licenses previously revoked due to default in payment of annual service fees.
Regarding efforts to reposition the mining industry, the minister revealed ongoing reforms and the introduction of mining marshals to sanitize the mining environment. These marshals are actively conducting operations to protect legitimate miners and combat illegal mining activities.
The Director-General of the Mining Cadastral Office and chair of the fees review committee, Engr Obadiah Nkom, stated that the committee recommended new rates aimed at enhancing the competitiveness of the fiscal regime of the mining sector compared to regional and global standards.
In response, President of the Miners Association of Nigeria, Dele Ayanleke, commended the Minister’s efforts to elevate the mining sector globally.
He expressed support for ongoing reforms and the proposed review of fees, urging the Minister to consider the challenges faced by miners and ensure that the new rates are affordable.
Stakeholders present at the meeting included representatives from the Miners Association of Nigeria, Women In Mining, Gemstone Miners Association, top officials of the ministry, and others.
