From Uche Usim and Isaac Anumihe, Abuja
The Federal Government on Monday lamented the huge unpaid royalties from mineral exports amounting to N17 billion and vowed to recover whatever remained unremitted.
It has also laid out a strategic plan to block revenue leakages in the sector going forward, while dismantling all identified bottlenecks hampering smooth business transactions on both exporters of minerals and regulatory agencies.
The Minister of Mines and Steel Development, Olamilekan Adegbite, made these disclosures in Abuja at a Stakeholders’ Consultative Forum on the Draft Minerals Export Exports Guidelines, Procedures and Documentation requirements.
According to him, between January 2013 to June 2017, a total of 2,670 mineral exports were made from Nigeria. Of these, only 56 were issued Mineral Export Permits by the Ministry of Mines and Steel Development and acknowledged to have paid royalties according to documents from the Nigeria Customs Service.
During the period, unpaid royalties amounted to N17.12 billion, which has not been remitted.
The event was attended by the Minister of Budget and National Planning Mrs Zainab Ahmed, the Permanent Secretary Special Duties, Aliyu Shinkafi and other stakeholders in the solid minerals sector of the economy.
The Solid Minerals minister noted that the absence of a handbook for standardised solid minerals export has also led to a situation where prices in the local mineral market are almost at par with international price benchmarks.
This, he stated had impeded ease of business for genuine exporters, as attaining reasonable margins had become practically impossible.
The Minister said local prices are high because most of the exports are carried out for money laundering purposes, where profit margins are not the necessary incentives.
In her speech at the event, the Finance Minister Mrs Zainab Ahmed, said that in order to harness the potentials of the solid minerals sector, the government constantly articulates policies and develops guidelines aimed at maximising the sector’s contribution to the nation’s Gross Domestic Product.
Meanwhile, the Federal Government, at the weekend, lamented the spate of insecurity in the mining sector, saying that it will affect the development of the industry.
Speaking at the presentation of National Action Plan for Reduction and Elimination of Mercury use in Artisenal and Small-scale Gold Mining (ASGM) in Nigeria, the Minister of State for Environment, Chief Sharon Ikeazor, also listed other factors that can scuttle the mining and waste sectors, including funding, illegal mining operations, environmental pollution and insufficient modern mining infrastructure.
In the waste sector, the minister who was represented by the Director, Pollution Control and Environmental Health in the ministry, C.K Ikeah also mentioned other factors militating against the sector.