Nigeria’s Federal Government generated N14.59bn from 2018 to 2022, from issuing mining licenses and accreditation.
He also noted that the bulk of the revenue come from application, processing and annual service fees; constituting 50 per cent of the annual revenue generated from the Federal Ministry of Mines and Steel Development.
Nkom said the agency now has about 6,000 registered miners nationwide as it revoked 3,400 titles between September 2021 and September 2022. On its guiding principle for the allocation of mining licenses, the DG said the agency gives priority to ‘first come first served’ and ‘Use it or lose it’.
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