Federal Government says it is working assiduously to ensure that all revenues due to the Federation Account from the mining sector are promptly remitted into the Federation’s distributable pool account as at when due.
Chairman, Revenue Mobilization Allocation and Fiscal Commission, Mr Mohammed Shehu stated this in Asaba at a sensitization on the Implementation of a new solid mineral data rendition templates for effective revenue monitoring.
The sensitization was put together by the Revenue Mobilization Allocation and Fiscal Commission, along with the Ministry of Solid Minerals Development, the Director-General of the Mining Cadastre Office and all other relevant stakeholders, drawn from the South South States of Delta, Bayelsa, Edo, Rivers, Akwa Ibom and Delta
The Chairman of the Revenue Mobilization Allocation and Fiscal Commission Chairman, Mohammed Shehu, represented by the federal commissioner representing Delta State on the board, Martin Egharhevwa, hinted that despite the extent of activities going on in the country’s mining sector, it contributes only, a negligible amount to the Federation Account, largely due to the lack of proper and effective monitoring of mining activities.
”The implementation of the new data rendition templates could not have come at a better time, given the current economic difficulties our country is experiencing at the moment”
“The need to diversify the nation’s revenue sources cannot be overemphasised, primarily because of the perpetual over dependence on hydro carbon sources of revenue, which is often plagued by the vagaries of the international oil market in addition to other reasons, which include: shut-ins resulting from pipeline vandalisation and crude oil theft”
”That is why the present administration of President Bola Ahmed Tinubu, GCFR, has placed the harnessing of revenue potentials from other sectors of the country’s economy, solid minerals, agriculture, tourism, manufacturing, blue economy, etc. at the front-burner in order to broaden the country’s revenue base”
”As you all may already be aware, the RMAFC is saddled with mandates that cut across the three (3) tiers of Government as enshrined in the 1999 Constitution of the Federal Republic of Nigeria (As Amended). One of such functions is to “monitor accruals into and disbursements of revenue from the Federation Account”. It is worthy of note, that in the quest to achieve the above mentioned mandate within the country’s mining space”
”The Commission has in the last decade in 2016 (Phase 1) and 2022 (Phase II) conducted Two (2) nationwide solid mineral revenue monitoring exercises, with the intention of pushing upwards, revenue generated from the country’s mining sector. I am delighted to state that these efforts, have considerably improved revenue generation from the sector”, RMAFC Chairman stated.
Shehu said the new data rendition templates were designed to capture and manage relevant data with regards to specific measurement of quantity of minerals produced, producing companies and their locations, particular licenses, fees and permits paid by mining companies.
According to him, the data if properly managed/utilized, would go a long way in ensuring that mining operations and revenues therefrom, would be more effectively tracked and accounted for.
Shehu stated further, ”Consequently, the RMAFC is here today, with its partners in the country’s mining sector, to unveil the implementation of the new data rendition templates, developing the necessary synergy required to boost mining operations and resultant revenues accruable”
”This programme would also subsequently hold at the zonal level, by replicating same at the six (6) geopolitical zones of the country, engaging in critical discussions geared towards harnessing the full potential of mining revenues nationwide”
In an address of welcome, the Chairman, Solid Mineral Monitoring Committee, Revenue Mobilization Allocation and Fiscal Commission, Ibrahim Shettima said the sensitization was necessitated by the need to bridge the observed gaps in the rendition of timely and accurate revenue data on a State-by-State basis by agencies of government and operators in the solid mineral sector.
Shettima stated, ”The exercise is also primarily aimed at ensuring the existence of a platform for an independent data source for the Commission which would be free of summation errors and can be used for comparison and as advanced information for attribution purposes”
” It is therefore imperative that the perceived discrepancies in the figures submitted by State Governments and the Ministry of Solid Minerals Development as revenue from the Solid Mineral sector into the Federation Account be addressed through the use of a uniform solid minerals data rendition template which will specify the scale of measurement used to report quantity, actual location of production asides State, the company mining the mineral and rate being sold per unit of measurement. This process is aimed at enhancing effective revenue monitoring”.
He urged all participants to actively contribute their expertise and perspectives to the discourse, with a view to transforming the nation for the benefit of all Nigerians.
The representatives of Rivers , Bayelsa and Cross River State governments used the occasion to highlight the solid mineral deposits in their respective states , which according to them were under estimated, and needed to be harnessed for the development of their states and the country.
Highlight of the event was a paper presentation on the general overview of the global/ Nigeria Mining Sector, Assessment of Revenue Contribution using data rendition .
