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FG Raises Committee To Increase Mining Revenue Latest News Updates

FG Raises Committee To Increase Mining Revenue

Mining revenue nigeria

Oct 4, 2011 – FG Raises Committee To Increase Mining Revenue

The Federal Government has set up a committee on revenue generation in the minerals and metal sector.
The Minister of Mines and Steel Development, Musa Mohammed Sada, while inaugurating the Committee, said the minerals and metal sector should focus on revenue drive  to boost the Gross Domestic Product (GDP).The Deputy Director, Press, Marshal Gundu, in a statement, yesterday, said Sada decried the current level of revenue generation in the  sector, stressing the need for its improvement.

The statement noted that the minister, who was also disturbed by the spate of illegal mining in the country with its resultant effects on  revenue, urged members of the committee to find a lasting solution to the problem.

In the words of the minister: “The current level of revenue generation can and must be improved upon. Make sure that all revenues are collected.

We need to put things right,” adding that the Federal Government would ensure proper monitoring of activities of mining operators and construction companies so that revenues accruable to the Federal Government coffers from their operations are adequately remitted in line with the laid down regulatory framework of the sector.”

He said the government is considering the restructuring and rationalisation of Ministries, Departments and Agencies of government, and, therefore, challenged  professionals to be proactive in addressing problems facing the sector to achieve its mandate of transforming the nation’s economy.

Sada said the Committee  has the mandate to boost revenue generation, ascertain areas of leakages and proffer solutions, adding that the body should make useful recommendations.

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