By Gabriel Ewepu, Abuja

The Federal Government and operators in the nation’s mining sector have reached a consensus on reviewing licence rates earlier announced in accordance with current market realities.

This was contained in a statement signed by the Special Assistant on Media to the Minister of Solid Minerals Development, Segun Tomori, where it was made known that the Minister of Solid Minerals Development, Dr Dele Alake, had a three-hour meeting with stakeholders along with key officials, including the Permanent Secretary, Dr. Mary Ogbeh, the Director-General of the Mining Cadastral Office (MCO), Engr. Simon Nkom, and the Special Adviser to the Minister, Hon. Kehinde Bamigbetan.

Basically, according to the statement, the review aims to align the sector with current market realities and to ensure more effective management of Nigeria’s mineral resources. Stakeholders were also granted the green light to propose adjustments to royalty rates for minerals that have seen their market values drop below official estimates.

Meanwhile, Alake explained in his remarks that the revised license rates are necessary to help the government recover investments made in improving the sector’s infrastructure, and he also pointed out that these changes are also aimed at deterring speculators who hold mining titles without any active mining operations.

The Minister also made it known that additional measures, including the deployment of satellite imaging, are being implemented to sanitize the industry, attract credible investors, and support the Mining Marshals in eliminating illegal mining activities and prosecuting offenders.

In a bid to boost morale within the sector, the minister announced the redeployment of federal mine officers as part of a broader effort to enhance performance. However, he warned that officers who are found wanting in their duties will face appropriate disciplinary action.

Meanwhile, he (Alake) addressed the concerns stakeholders raised over interference by state governments, including the shutdown of licensed mining operations and the duplication of federal regulations. He assured that discussions with state governors and the Nigerian Governors Forum (NGF) are ongoing.

He also disclosed that ongoing deliberations by a joint task force of the Ministry and the NGF are in top gear and would be scaled up to resolve knotty issues and foster cooperation.

In another significant development, the Minister approved a proposal to transfer the N2.5 billion mining sector support fund from the Bank of Industry to the Solid Minerals Development Fund (SMDF). This move is intended to ease access to funding for indigenous miners by offering more favourable conditions.

He also expressed gratitude to the stakeholders for candidly sharing their concerns and emphasized the ministry’s commitment to holding quarterly interactive sessions to foster dialogue and receive feedback on the sector’s progress.

Earlier, the President of the Nigerian Miners Association, Chief Dele Ayanleke, presented a 10-page position paper outlining various concerns, including the negative impact of state government regulations on mining, the operation of mining marshals, the need for value addition, the review of rates, and the exclusion of stakeholders from the review process of mining laws by the National Assembly.

Signatories to the stakeholders’ position paper included prominent representatives from various mining-related organisations such as Professor Akinade Olatunji (Nigerian Mining & Geosciences Society), Hon. Kelvin Dele Oye (NACCIMA), Amb. Regina Ike-Edzuwah (Women in Mining in Nigeria), Dr. Albarka Hassan (Nigerian Society of Mining Engineers), Mr. Patrick Odiegwu (Association of Miners & Processors of Barite), Mr. Seun Olatunji (Lagos Chamber of Commerce and Industry), Alhaji Sanni Shehu (ECOWAS Federation of Chambers of Mines), and Engr. Adeniran Ajibade (Gemstones Miners and Marketers Association of Nigeria).