Senate panel wants Nigerian govt to review mining licence to investors

The Senate Committee on Solid Minerals Development has called on the federal government to review mining licences granted to investors as part of the measure to curb illegal mining activities in the country.

The Chairman of the committee, Ekong Sampson, made the call on Tuesday when he led members of his committee on an oversight function to the Ministry of Solid Minerals Development in Abuja.

Mr Sampson, representing Akwa Ibom South Senatorial District, said several illegal operators in the country’s mining sector are undermining the nation’s revenue and disrupting lawmakers’ oversight functions.

“Illegal operators not only undermine revenue but also disrupt oversight functions. By enacting stronger legal measures, we can create a mining environment free from unauthorized activities,” he said.

The senator stressed the need for a review of the nation’s mining sector to increase revenue.

He assured that members of the National Assembly will collaborate with the government to achieve the review.

“What you need to know is that there is going to be a review of policy. We are exploring trajectories to ramp up revenue for the government. Through proper consultations and collaboration, we need to firm up the economy.

“So we are committed to working together and the important thing is that this sector needs attention and having a very committed Nigerian as minister, working closely with the National Assembly, better days are ahead.”

Improved revenue

On his part, the Minister of Solid Minerals Development, Dele Alake, said the ministry has recorded an increase in revenue since he assumed office.

Mr Alake also said the ministry secured a N2.7 billion forfeiture from an illegal operator.

“The report of our revenue collection is also there. We have recorded over N17billion and if you compare that with the performance in 2023, you will see a quantum leap and about two weeks ago, we were able to secure a N2.7 billion forfeiture from an illegal operator engaging in illegal mining operation,” Mr Alake said.

Responding, Mr Sampson commended Mr Alake for his achievements, particularly in improving revenue generation.

“This sector is crucial to our economy, and we are impressed by the improved revenue profile. Together with the Ministry and through active collaboration, we are confident in our ability to drive sustainable development in this essential sector,” he said.