FG target 50% revenue contribution to GDP through minerals

The Federal Government, on Wednesday, vowed to plug leakages and loopholes impeding the collection of accruable revenues in the solid Minerals sector as well as achieving its target of 50% contribution to the gross domestic product of the country.

Minister of Solid Minerals Development, , disclosed this in Abuja, during his familiarization tour to the Mining Cadastre Office (MCO) an agency.

Dr Alake explained that the deliberate decision to plug all leakages and loopholes across agencies of the Ministry with the aim of reviewing and enhancing revenues is deemed imperative in view of government’s high expectation for revenue from the solid Minerals sector to facilitate implementation of programmes that will lift the people out of poverty, generate employment opportunities and create wealth under the Renewed Hope Agenda of the present administration.

He said: “We will take firm decisions in record time, plug all leakages and loopholes to enhance revenue, reviewing all fees paid by operators and businessmen with alacrity, that will cut across all the Agencies of the Ministry.

“The Ministry is posed to meet its target projection of making the solid Minerals sector achieve its target of 50% contribution to the gross domestic product of the country. The solid Minerals sector, he restated, is the next oil. We will employ all legitimate means of sealing leakages.”

While commending the enviable contribution of the Mining Cadastre Office in the overall achievements of the Ministry, Dr Alake admonished its staff not only to brace up in maintaining the success achieved, but strive to achieve and surpass Federal Government’s target.

In his remarks, the Director General of the Mining Cadastre Office ( MCO), Engr. Simon Nkom, briefed the Minister on its activities and programmes achievements and challenges; citing the need to upgrade it’s e-MCO+ to the new system for efficiency in administrative management of Cadastre applications.

Still on familiarisation tour of Agencies, the Minister visited and acknowledged the peculiar role of the Nigeria Geophysical Survey Agency (NGSA) to overall national development, particularly in projecting and generating vital data for all professional fields.

The minister added, Nigeria Geophysical Survey Agency ( NGSA) affects every sector of the economy; data, information and intelligence is power. Every decision maker needs it.”

Similarly, the Director General of the NGSA, Dr Garba AbdulRazak took his time to brief the Minister on its mandate programmes and activities, with a guided tour of the agency’s museum in its headquarters building.

During his visit to the Council of Nigerian Mining Engineers and Geoscientists ( COMEG), the Minister of Solid Minerals Development, Dr Oladele Alake stated that the agency cannot be relegated as it performs a role that is critical to the survival of the sector and the nation at large.

He asserted that “COMEG as a quasi-academic body is helping to ensure quality control in the training and practices of professionals in the Nigerian Extractive Industry.”

The Minister assured the DGs/CEOs/Ag.Reg of the three Agencies visited; the Mining Cadastre Office (MCO); Nigeria Geophysical Survey Agency (NGSA) and Council of Mining Engineers and Geoscientists ( COMEG) of the Ministry’s constant support cooperation and collaboration in addressing and resolving their peculiar challenges.