Mr Uchechukwu Ogah, the Minister of State for Mines and Steel Development, says the ministry generates its revenue from different sources not only from royalties.
Ogah made this known on Tuesday in Abuja, while receiving the delegates of Management and Senior Executive Course 43 participating at the National Institute for Policy and Strategic Studies (NIPSS) in Kuru, Plateau.
He said that the ministry had made great improvement in revenue generation from other mining sources.
“People do associate the source of the ministry’s revenue to royalties but this did not only contribute to our revenue.
“We generate funds from Value Added Tax (VAT) collected from quarries and cement companies, their VAT constitute part of our revenue because they are part of mining.
“The VAT from limestone is little but all these tax also made up of the revenue, so there are lot of improvement in revenue generation by the ministry,” he said.
Ogah said that the ministry had been charged with the overall mandate to unlock the economic potential of the minerals and metal sector and ensure the sustainable for peace and prosperity of all Nigerians.
“The ministry is currently wielding a presidential directive to take a leading role in the diversification of our national economy in the light of the challenges of the vulnerability of the oil economy and it is uncertain prospects for the future.
“In our commitment to deliver on presidential task, we have not only rejigged our vision and mandate but developed and adopted new reform initiatives and innovative strategies for ensuring optimal performance of the sector.’’
He said that the visit of NIPSS to interact with the officials of the ministry was timely as this would go a long way in promoting the attainment of the objective of the ministry.
“We are expecting feedback from the delegate on areas that the ministry can improve on, this will add to some of the policy formulation and the future growth of the ministry,’’ Ogah said.
Earlier, the Acting Director-General, Brig-Gen. of NIPSS, Adaya Chukwuemeka said that the visit was to understudy the ministry’s mission, vision and challenges.
Chukwuemeka, represented by Prof. Audu Gambo, head of the delegate said that the ministry was a very strategic institute and their wealth of knowledge could be of great opportunity to proffer growth and solutions to the challenges of the ministry.
He appreciated the ministry for the warm reception accorded the team and urged the ministry to send a director to the institute to undergo the course.
The delegates of NIPSS that visited the ministry constitute officers from different Ministries, Parastatal and Agencies (MDAs) at the state and the federal level, Navy, Army among others. (NAN)