FG to review mining license rates in Nigeria – Minister

The Federal Government, done the Ministry of Solid Minerals Development, has disclosed plans to reappraisal the rates of mining licences and different fees payable by mining operators successful the country.

This was disclosed successful a connection signed by the Minister of Solid Minerals Development, Dele Alake’s Special Assistant connected Media, Segun Tomori.

Speaking during a consultative gathering with stakeholders, connected Thursday successful Abuja, the Minister stated that the program would heighten the government’s capableness to reposition the mining assemblage effectively.

He stressed that the reappraisal had go inevitable if the authorities was to efficaciously fulfil its obligations of providing an enabling situation for mining operations portion raising much revenue.

The Minister solicited the enactment of stakeholders for the impending summation successful fees for mining licenses and different sundry fees.

He further revealed that speech from the ongoing reforms, the medication was sanitizing the mining situation done the caller mining regulations, made to support morganatic miners and combat amerciable mining.

Alake said, “For america to proceed to guarantee that we unafraid the mining situation and support putting successful spot measures that volition easiness the operational difficulties and challenges that face miners, we request to reappraisal the rates of mining licenses and different sundry fees.

“We felt that we couldn’t conscionable bash this without letting you cognize because, invariably, you are the players successful the industry.”

The Minister besides noted that the authorities followed owed process successful the caller revocation of dormant mining licenses.

He pointed retired that a 30-day restitution model inactive existed for operators that were affected.

DAILY POST recalls that the curate announced a restitution interest of N10m, 7.5m, 5m and 2.5m for mining licenses, small-scale mining licences, exploration licence and quarrying licence respectively for revoked dormant licences including those earlier revoked for default successful outgo of yearly work fees.

Speaking connected behalf of the stakeholders, the President of the Miners Association of Nigeria, Dele Ayanleke, commended the curate for his efforts successful the mining sector, expressing enactment for ongoing reforms and plans to reappraisal fees payable by operators.

He urged the curate to see the challenges faced by miners and guarantee the rates were affordable.