The minister of Mines and Steel development, Architect Musa Mohammed Sada, has described the current level of revenue generation in the nation’s mineral sector as deplorable, while stressing the need for improvement.
In a statement signed by the deputy director, press, Marshal Gundu said, “the Minister stated this while inaugurating the committee on revenue generation for the sector in Abuja recently.”
He said the nation’s minerals and metal sector needed to focus on revenue generation in order to contribute significantly to the Gross Domestic Product (GDP) of the country.
This he said, was to ensure that the nation’s minerals and metal sector contributed significantly to the national economy through its mining activities.
Sada, who was also disturbed by the spate of illegal mining in the country with its resultant effect on the level of revenue generation in the minerals and metal sector, tasked members of the Committee on Revenue Generation to address and find a lasting solution to the problem.
He said the federal government would ensure proper monitoring of activities of mining operators and construction companies so that all revenues accruable to the federal government coffers from their operations are adequately remitted in line with the laid down regulatory framework of the sector.
The Minister disclosed that the present administration was considering the restructuring and rationalization of Ministries, Departments and Agencies (MDAs) of government and charged all professionals in the Ministry and its agencies to be proactive in addressing all militating problems facing the sector so as to achieve its mandate of transforming the nation’s economy.
The Committee on Revenue Generation has three (3) weeks from the day of inauguration to submit their final report which has the following Terms of Reference, identify all revenue sources, identify the payers across the nation, determine the revenue assessment criteria, determine the modalities for the collection among others.
The Chairman of the Committee on Revenue Generation and Deputy Director, Accounts in the Ministry, Malam Sani Garba, who responded on behalf of members of the committee promised that the committee would leave no stone unturned in delivering their mandates for the development of the sector.