• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

FG sets up committee to boost revenue in mining sector 

Chidinma Nwagbara by Chidinma Nwagbara
November 14, 2019
in Business News, Politics
FG sets up committee to boost revenue in mining sector , FG reiterates commitment to rejig steel sector, moves to ban steel importation, 1,759 illegal mining sites operate in Nigeria - Minister of Mines and Steel , Chinese dominated mining sector adding little or no value - Minister 
Share on FacebookShare on TwitterShare on Linkedin

In a bid to generate more revenue in the mining sector in the country, the Federal Government has set up a 14-member committee. This was made known by the Minister of Mines and Steel Development, Olamilekan Adegbite in a statement released by Idowu Jokpeyibo on behalf of the ministry.

The committee is reportedly on the Optimization of Revenue from Mineral Resources Sector to increase the revenue base of the country.

According to The Nation, the committee was set up to exploit the mineral resources in the country. Adegbite said that if all the 44 mineral resources in the country were used to its full potential, it would increase the revenue base of the country.

RelatedStories

Mining: FG says it has revoked 3,402 titles

FG says it has revoked 3,402 mining titles

January 19, 2023
Why FG is unbundling Nigeria’s rail sector – Sen. Gbemisola Saraki

Nigeria to prioritise Lithium, bitumen, limestone, others

October 14, 2022

Mining

More details: Adegbite also disclosed that apart from generating revenue, the committee was set up in line with the projections of the president to alleviate 100 million Nigerians out of poverty in the next 10 years. This is through the diversification of the economy from crude oil to solid minerals exploration and exportation.

Speaking further, Adegbite encouraged the committee to be intentional in its approach and ensure that revenue generated from artisanal miners’ activities are recorded while also working out ways to block leakages from illegal mining accruals.

What you should know: The government has been trying to revive the sector in recent times. As published by Nairametrics, Pedro Omontuemhen, a partner at PricewaterhouseCoopers disclosed that in some African countries, the contribution of mining to the GDP hovers around 15-25% but Nigeria’s contribution is less than 1%. This is why the sector has been termed critical to Nigeria, leading as much as 100 million people out of poverty as mentioned earlier.

Despite the host of the mineral resources embedded in Nigeria, the mining sector has been classified as non-performing, hopefully, with the new revival of the sector, Mining will start to play significant roles in the economy.


Follow us for Breaking News and Market Intelligence.
Tags: Nigeria's mining sectorOlamilekan Adegbite
Chidinma Nwagbara

Chidinma Nwagbara

Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - chidinma.nwagbara@nairametrics.ng

Related Posts

Mining: FG says it has revoked 3,402 titles
Manufacturing

FG says it has revoked 3,402 mining titles

January 19, 2023
Why FG is unbundling Nigeria’s rail sector – Sen. Gbemisola Saraki
Business News

Nigeria to prioritise Lithium, bitumen, limestone, others

October 14, 2022
solid minerals
Business

Nigerian mining sector can now attract more foreign interest – Minister of Mines, Adegbite

November 29, 2021
Gold prices surge by 17.4% in 2 months due to global economic crisis, Gold Future Drops to $1727.80 as Tensions Escalate between America and China
Business

Nigerians will soon use their gold as collateral for loans – Minister

March 28, 2021
FG liberalize mining sector, grants 5 years tax concession to miners and other perks
Business

FG reiterates support for the development of the steel industry in Nigeria

February 23, 2021
Buhari presented with gold bars mined in Zamfara as Nigerian prepares to launch PAGMI scheme.
Business News

Buhari presented with gold bars mined in Zamfara as Nigerian prepares to launch PAGMI scheme.

August 25, 2020
Next Post
land borders to be reopened soon, Finance, Ministaer, vow to recover AMCON debt through issuance of promissory notes, FG reiterates stance on IPPIS as ASUU threatens strike, Finance Minister, Zainab Ahmed identifies capital market as key driver for economic growth , Nigeria has paid $1.09 billion to service its debts in 2019  , Dividends on oil proceeds will be taxed - FG , State governments own most bad roads - Finance Minister says, Budget deficit increases by N351.98 billion, as FG misses revenue target, Economy: Funding MSMEs in Nigeria , Finance Bill: New tax regime to take effect from Jan 2 - FG , Again, Finance Minister argues that Nigeria is not in debt distress , ECOWAS: Single currency regime not kicking off in 2020  , FG: CBN holds N43 billion stamp duty charges collected by banks , FG may shift deadline to deactivate bank accounts without tax verification, Confusion as ministry and presidency disagree over Finance Act start date, 7.5% VAT: Implementation to begin Feb 1 – FG , Finance Minister: Nigeria to go into recession if ..., Foreign tech companies that will now pay tax to FGN: see the criteria

State governments own most bad roads - Finance Minister says

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Nigerian Ehis Akhimie convicted in US for $6 million fraud, faces up to 20 years in prison 
  • Tin Can Customs Command generates N747 billion in H1 2025, up 29.85% from last year
  • 9mobile, MTN to roll out National Roaming nationwide before end of July 

Follow us on social media:

Recent News

Nigerian Ehis Akhimie convicted in US for $6 million fraud, faces up to 20 years in prison 

Nigerian Ehis Akhimie convicted in US for $6 million fraud, faces up to 20 years in prison 

July 3, 2025
Nigerian Custom service

Tin Can Customs Command generates N747 billion in H1 2025, up 29.85% from last year

July 3, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics