The Minister of Solid Minerals Development, Dele Alake, has unveiled a startling revelation: the Federal Government is grappling with a staggering amount of unpaid royalties and taxes from legal mining operators, totaling trillions of Naira.
This revelation emerged during a meeting between Alake and Mohammed Bello, the chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), as conveyed in a statement by Segun Tomori, the Minister’s special assistant on media.
Alake underscored the administration’s unwavering commitment to reclaiming these outstanding royalties and taxes within the mining sector. He outlined a series of measures implemented by the government, including enlisting consultants to tackle loopholes and recoup owed funds from licensed operators. Alake emphasized the critical need to rejuvenate the mining industry to significantly bolster Nigeria’s GDP and ensure its benefits extend to a broader spectrum of Nigerians.
According to the statement, Alake stated, “Our efforts thus far have uncovered a distressing reality: legalized operators owe us trillions of Naira in unpaid royalties and taxes. We are resolutely focused on recovering these funds and are currently in the process of engaging internationally certified auditors to scrutinize the system and streamline the entire revenue collection process.”
Additionally, Alake reiterated the government’s resolve to revamp the mining sector, elevate its revenue contribution, and position it as a formidable economic driver akin to the oil industry in Nigeria’s GDP.
“We are poised to collaborate with stakeholders, including states and host communities, to harness the full potential of the mining sector for the collective benefit of all Nigerians. Our objective is to ensure that the industry translates into tangible progress for the widest segment of our populace.”
