Obadiah Simon Nkom, director general of the Nigeria Mining Cadaster Office (NMCO), has revealed that the office has generated N36. 048 billion since its inception.
The DG said that 100 percent of the generated revenue has been remitted to the federal government’s Single Treasury Account(STA).
Speaking when he received a delegation of the Senate House Committee on Solid Minerals Development, who were on an oversight visit to the agency, led by Ekong Samson, its chairman, representing Akwa Ibom Senatorial South District, said the Mining Cadaster Office was established as an agency in line with the provisions of Section 5(1) of the Nigerian Minerals and Mining Act, 2007.
According to Nkom, “Revenue generated by the Office from inception to date is N36,048,229,019.00. Note that 100% of revenue generated is remitted to Federal Government Treasury Single Account (TSA). Revenue generated from 2019 – October, 2024 N26,230,733,463.00 representing 75% of revenue generated.”
He noted that revenue generated from 2023 to October 2024 amounts to N13.194 billion, representing an increase of 63 percent over N8.094 billion generated in the corresponding period of 2021 – September, 2022.
Speaking on achievements of the agency, Nkom noted that the agency has migrated to an electronic platform which further promotes the transparency and objectivity the agency seeks.
He said since the adoption of the new technology, the agency has received 58,484 new mineral titles and modification applications, refused 19,583, reissued 26,666, and presently has 7, 238 valid titles.
“We have migrated the system to an electronic Mining Cadaster system. The EMC+ was launched for the public in November 2022 and we have migrated the system to an online system and since then, the system has been in place,” he said.
Speaking on current operational challenges by the agency, the DG listed limited funding, noting that resources fall short for expansive projects and operational requirements.
Speaking earlier, Samson said the Senate has taken a two-week break to bring oversight to the various MDAs before the budget details are presented
“So we are here, further to that mandate, to oversight MCO and compare notes, and undertake a range of inquiries designed clearly to further drive the reforms in this all-important secto,” he said.
“Your office is very important to the industry. To this extent, and against this backdrop, I trust that this oversight visit will draw up a range of opportunities, which we are meant to use to further deepen reforms in the sector. So it will be good for the industry.
“We are going to have a summary of your assets and liabilities, partnerships between your office development partners and other private sector institutions for mining developments in the country. Of course, we are all going to look at your revenue generation and evidence for remittances. In broad terms, we will also cover challenges, if any,” he said.
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