Mining Cadastre Office records 86% growth in revenue generation — DG Nkom
…As President Buhari opens mining week
By Gloria Akudoro, Abuja.
The Director General, Nigeria Mining Cadastre Office, Engr. Simon Nkom, disclosed that it office has recorded 86 per cent growth in revenue generation.
This is even President, Muhammad Buhari on Tuesday declared open the 3-day 6th edition of the Nigeria Mining Week 2022.
Speaking the during the opening ceremony of Nigeria Mining Week, Nkom expressed fulfillment in the achievements so far, said the the launch of the Electronic Mining Cadastre Plus (EMC+) is indeed the starting point the agency.
While disclosing the revenue generated despite the challenges as part of it achievement, the DG, stated that the agency witnessed swift growth in revenue generation since 2019 to date. He added around 86 per cent was generated 2021 through licensing and annual fees which add to the sustainable development of the nation.
He disclosed that EMC+ is a system which enables fast and seemless online administration and management of mineral titles in an efficient and transparent manner throughout the life cycle of the titles.
Nkom also revealed that, upon the completion of the EMC+ project, the international peer reviewer was engaged by the world bank who attested to the efficiency of the functionality of the new system and has been attested satisfactory.
“It enable investors both local and international to register online at the very comfort of their homes using any of the home devices without the need to travel down to Nigeria and the local investors will have to tender issues at the zonal office of their states. The electronic filling system was initially computerized but we have now migerated to an online system which simple means, you can be anywhere in the world to register and get your license.”
Describing how it works, the MCO DG, explained that investors needs to create username and password and ensure they abide by the system instructions which is in line with the law and international best practices. Adding that the system is linked the the Ministry’s web portal.
On the benefits, Nkom said EMC+ will go a long way to ease ways of doing business, increase transparency, save time and money especially on travel logistics and also encourage foreign investment into the sector. He said it also avails Nigeria the opportunity becoming one of the international players as well as boost the GDP of the country.
The highlight of the event was the commissioning of the Electronic Mining Cadastre Plus – EMC+ and a tour with the Vice President, Minister and entourage round the mining companies exhibition stands.
Also, the President who spoke through the Vice President, Yemi Osinbajo, in Abuja commended the host Ministry, Mines and Steel Development, PwC, Vuka for faithfully organizing this event in the last 6 years and showcasing Nigeria’s mineral assets and its dynamic mining ecosystem to potential local and international investors.
President Buhari revealed that since 2015, his administration have intentionally prioritised the development of the country’s mineral resources as one of the frontiers for economic growth leading to the comprehensive Roadmap for the Growth and Development of the Nigerian Mining Sector and we have steadily followed the steps set out in the roadmap.
“So far, we can say without fear of contradiction that this administration has committed more resources to the development of the mining sector than any other government in the history of this country. And we are proud that the indices of development in the sector are rapidly changing,” he noted.
He attributed the success to the increased revenue generation and unprecedented investment interest that the industry has attracted in the past few years. He said Nigeria, for the first time, now have a world-class gold mine in Segilola, Osun state operated by Thor Exploration and Eta Zuma Mining and Industries limited, Mosra Enerji are mining and supplying the coal needs of Dangote and Bua Cement factories.
Under the steel industry, the President revealed that African Natural Resources and Mines limited who are owners of the Kagarko Integrated Steel plant, is about to produce liquid Steel from its Iron ore mine in Kaduna State a d also several other investors are at different stages of mine development in various parts of the country, and these strategic milestones will hopefully catalyse more mining investment in the country.
He however expressed optimism that the sector will outstrip other sectors of the economy in export earnings, and the creation of good paying jobs and opportunities when fully developed which will also stimulate industrial growth as a local source of raw materials and improve the quality of lives in rural communities.
President Buhari who affirmed that the vision of the country can never be industrialised without a vibrant steel sector, said the administration has therefore prioritized the resolution of all the issues constraining the full operation of the Ajaokuta Steel Company and “to this end a transaction adviser has been appointed to concession the Ajaokuta Steel Company and the Nigerian Iron Ore Mining Company Itakpe. The selection process is ongoing. Our commitment is to break the jinx and actualise the dream of a vibrant steel sector”.
