{"id":117744,"date":"2025-04-22T08:48:51","date_gmt":"2025-04-22T07:48:51","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=117744"},"modified":"2025-04-22T08:48:51","modified_gmt":"2025-04-22T07:48:51","slug":"fg-generates-n6-96bn-in-mining-fees-alake","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/fg-generates-n6-96bn-in-mining-fees-alake\/","title":{"rendered":"FG Generates N6.96bn in Mining Fees- Alake"},"content":{"rendered":"<div style=\"text-align: justify;\">By Tracy Moses<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Federal Government has recorded a revenue of N6.96bn from mining fees and successfully registered 118 new private mineral buying centres in the first quarter of 2025, Minister of Solid Minerals Development, Dr. Dele Alake has said.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Alake disclosed this at the Second Annual Mining Conference hosted by BusinessDay newspaper in Abuja, on Monday.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Minister stated that the revenue, which was generated by the Mining Cadastral Office (MCO), stemmed from a total of 955 applications for mining titles.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">These included 651 applications for exploration licenses, 270 for small-scale mining leases, 49 for quarrying licenses, and 24 for reconnaissance permits.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">From these applications, the MCO approved 867 licenses: 512 exploration licenses, 295 small-scale mining leases, 60 quarry leases, and 5 mining leases.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cThese funds were realized through application processing fees, annual service charges, and title renewals,\u201d the Minister explained, adding that the MCO has also ramped up efforts to resolve conflicts and minimize disputes arising from overlapping mining claims.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Alake also provided updates on the Nigerian Solid Minerals Corporation, a new initiative intended to serve as a globally competitive vehicle for attracting investment into the sector.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">He said the structure of the corporation is being finalized in collaboration with the Ministry of Finance Incorporated (MOFI), with its ownership divided as follows: 25 percent allocated to Nigerian citizens via public offerings, another 25 percent to the government, and the remaining 50 percent to private sector investors.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Speaking on the conference\u2019s theme, \u201cBuilding A Resilient Mining Sector,\u201d Alake emphasized that the ministry\u2019s reforms are beginning to yield results.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">In his words, the sector had already surpassed its 2024 revenue projection of N11bn by generating N38bn an excess of N27bn.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">He further highlighted ongoing international partnerships focused on capacity building and boosting value addition across the mining value chain, as part of broader efforts to transform the sector.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Tracy Moses The Federal Government has recorded a revenue of N6.96bn from mining fees and successfully registered 118 new private mineral buying centres in the first quarter of 2025,&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":105862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-117744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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