Mining agency: FG generated N14.59bn as revenue from licences in five years | TheCable

The federal government, through the Nigeria Mining Cadastre Office, says it generated N14.59 billion in five years (2018 to 2022). Obadiah Nkom, director-general of NMCO, said this at the 63rd

January 19, 2023 1:57 PM

He said the agency in 2018, 2019, and 2020, generated N1.55 billion, N2.38 billion, and N2.57 billion, respectively.Advertisement He added that the bulk of the revenue come from application, processing and annual service fees; constituting 50 percent of the annual revenue generated from the federal ministry of mines and steel development.Nkom, who was recently reappointed by President Muhammadu Buhari for another period of four years, said the agency has revoked 3,000 titles, with plans to revoke more in 2023.

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