• 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 Sectors Manufacturing

Mining operators owe FG trillions of naira in unpaid royalties – Dele Alake 

Sami Tunji by Sami Tunji
January 29, 2024
in Manufacturing, Sectors
Dele Alake

Minister of Solid Mineral Development, Dele Alake

Share on FacebookShare on TwitterShare on Linkedin

Nigeria’s Minister of Solid Minerals Development, Dele Alake, has revealed that the Federal Government is owed trillions of Naira in unpaid royalties and taxes by legal mining operators.

This was disclosed in a statement by Segun Tomori, the Minister’s special assistant on media, during a meeting with Mohammed Bello, the chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC). 

FG engages consultants to recover funds 

Alake further said the present administration is committed to recovering unpaid royalties and taxes in the mining sector. He said the federal government has put in place measures like engaging consultants to block leakages and recover the unpaid funds owed by licensed operators. Alake emphasised the need to transform the mining sector to significantly contribute to the nation’s GDP and to ensure the industry’s benefits reach a wide range of Nigerians.  

RelatedStories

Hasetins to establish $400 million Rare Earth Plant in Nasarawa, targets 10,000 new jobs 

Hasetins to establish $400 million Rare Earth Plant in Nasarawa, targets 10,000 new jobs 

June 23, 2025
Mining Cadastre Office generates N10.9 billion in four months – DG 

Mining Cadastre Office generates N10.9 billion in four months – DG 

May 12, 2025

The statement read: 

  • “Dr Alake, in his response, revealed that the Federal Government has put in place measures like engaging consultants to block leakages and recover funds owed by licensed operators, which he put at several trillions of naira. 
  • “From our efforts, so far, we have discovered to our chagrin that we are owed trillions of naira in unpaid royalties and taxes by legalised operators. We are committed to recovering these funds and also in the process of engaging internationally certified auditors to look at the system and automate the whole gamut of the revenue collection processes. 
  • “Alake restated the resolve of government to sanitise the mining environment, ensure it contributes substantially to the nation’s revenue, and ultimately make the sector rival oil in contribution to Nigeria’s GDP. 
  • “We are ready to collaborate with you, states, and host communities to maximise the potential of the mining sector for the benefit of all Nigerians. Our focus is to ensure that the industry translates to greater good for the greatest number of our people.” 

 

Ministry to collaborate with RMAFC 

The ministry plans to collaborate closely with RMAFC to tackle revenue leakages in the mining sector. The chairman of RMAFC, Mohammed Bello, stressed the role the commission has played in the mining sector, urging for more collaborations. 

The statement read: 

  • “Mr. Bello in his remarks stated that the commission’s visit is hinged on pledging support for efforts of the Minister to transform the mining sector since assumption of office and also extract commitment that the commission will get his cooperation to carry out its statutory monitoring activities. 
  • “The commission was instrumental to getting the 10% monthly payment from the Natural Resources Development Fund to the Solid Minerals Development Fund (SMDF), and we know we can do much more together under your guidance and leadership to sanitise the sector, plug all loopholes and ensure the mining industry becomes a big chunk of our nation’s Gross Domestic Product (GDP). 

The RMAFC’s chairman of solid minerals committee and commissioner representing Zamfara state, Abubakar Sadiq, also stressed the need for improved collaboration with the RMAFC to address shortfall in revenue remittance by mining operators. 

He added that the commission’s evaluation of mining operations across the country shows that there is a shortfall in revenue to the government. 

According to the statement, Sadiq said: 

  • “Our evaluation of mining operations across the country has shown a shortfall in revenue to government. There is a monitoring gap. Government and RMAFC should strengthen collaboration to seal this gap and plug leakages in the system.” 
  • “We are also making a case for proper supervision and documentation of minerals exported through our borders whilst also urging that the environmental impact of mining operations should be looked into and minimised.” 

Follow us for Breaking News and Market Intelligence.
Tags: Dele AlakeRMAFC
Sami Tunji

Sami Tunji

Sami Tunji is a writer, financial analyst, researcher, and literary enthusiast. Aside from having expertise in various forms of writing (creative, research, and business writing), he is passionate about socio-economic research, financial literacy, and human development. Currently, he is a financial analyst at Nairametrics and an African Liberty Writing Fellow 2023/2024.

Related Posts

Hasetins to establish $400 million Rare Earth Plant in Nasarawa, targets 10,000 new jobs 
Deal Signals

Hasetins to establish $400 million Rare Earth Plant in Nasarawa, targets 10,000 new jobs 

June 23, 2025
Mining Cadastre Office generates N10.9 billion in four months – DG 
Manufacturing

Mining Cadastre Office generates N10.9 billion in four months – DG 

May 12, 2025
Proposed 5% levy on companies for community project might lead to exits – Afrexim Bank
Business News

FG collected N6.9 billion mining fees across Nigeria in Q1 2025  – Dele Alake  

April 22, 2025
Proposed 5% levy on companies for community project might lead to exits – Afrexim Bank
Manufacturing

Dele Alake announces the arrest of 327 illegal mining suspects across Nigeria since 2024 

March 22, 2025
FEC approves new connectivity and AI initiatives to drive digital transformation in Nigeria 
Economy

FEC approves N2.5 Billion to procure satellite gadget to combat illegal mining

March 3, 2025
Proposed 5% levy on companies for community project might lead to exits – Afrexim Bank
Business News

Dele Alake proposes 50% private sector, 25% Nigerian stake in Solid Minerals Corporation 

January 28, 2025
Next Post
The Luxury King : Here Is A List Of All The Brands Owned By Bernard Arnault Under LVMH.

How Bernard Arnault toppled Musk on Forbes with $3.3 billion 

Leave a Reply Cancel reply

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

Emple
nlng
first bank








DUNS

Recent News

  • Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 
  • South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG
  • 15 things you don’t need to start a business in Nigeria 

Follow us on social media:

Recent News

Sterling Bank concludes core application migration, leads the way for African Banking

Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 

July 15, 2025
Doctors

South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG

July 15, 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