Nigeria earns N6bn from Mining Licenses, 2019-2021

The Nigerian Mining Cadastre Office (NMCO), an agency under the Ministry of Mines and Steel Development, has generated mining licenses, N6.899 billion from 2019 to the first half 2021.

The revenue was also generated from the applications for mineral titles and permits as well as applications for the transfer, renewal, modification, and relinquishment of mineral titles or extension of areas.

In 2019, N2.580 billion was generated, in 2020 despite the lockdown, N2.303 billion was generated and N2.016 billion from January to June 2021.

Director-General (NMCO), Obadiah Nkom, who made the announcement said, over 34,678 applications for licenses have been received since the creation of the agency.

According to him, 17,612 applications were approved, 15,483 applications were rejected, 4,997 were revoked and 6,588 active titles are presently in existence.

The DG said this in Abuja, during an interactive session with newsmen.

He said that licenses are only revoked when people given the licenses refuse to work on or when they refuse to pay the required dues.

Nkom added, “So far, we don’t just revoke today and give to Mr. V tomorrow. No, we revoke, protecte the area during that period of three months or whatever. So that if the person does not send a petition because the person can write, once the area is blocked for the three months period. I do this so that I don’t revoke and realise that the issue is still being heard.’’

Nation/Hauwa Abu