Nigerian government threatens to revoke over 4,000 mining titles

The Nigerian government has threatened to revoke the licenses of a total of 4,011 mineral title holders for alleged non-payment of mandatory annual service fees. A document obtained by PREMIUM TIMES noted that defaulters have been given 30 days to pay or risk losing their titles. The document, which contains the list of presumed defaulters, was issued by the country’s Mining Cadastre Office (MCO), the Nigerian government body in charge of administering mining titles. “…If after the expiration of the 30-day notice, you fail to pay or fail to pay the outstanding fee to the Federal Government of Nigeria, the Mining Cadastre Office will immediately proceed and revoke your mineral title license(s) without prior notice to you,” the agency warned. About MCO The agency is responsible for the administration and management of mining rights and titles “through the request or public bidding process in a transparent manner.” Of the 4,011 suspected mineral title defaulters on the list, small-scale mining lease (SSML) holders have the largest defaulters of 1,914, accounting for a total of 47.72 percent, while small-scale mining license holders exploration accounted for 1,161, accounting for 28.95 percent. Likewise, quarry tenants represented 808, which represents 20.14 percent, while mining tenants (ML) represented 128, which represents 3.12 percent of the total presumed defaulters. Based on available data, compared to last year when 2,763 security holders were listed as delinquent, the total number of suspected delinquents in 2022 increased by 31.1%. In addition to those who allegedly did not pay their annual service fee, the minerals licensor also noted that it would not be business as usual “for those whose titles have been revoked and still refuse to pay.” It read: “All individuals, businesses, etc. are also notified. who had their mining titles revoked before now and had an outstanding liability (annual service fees) against them prior to the revocation of their titles, are also given 30 days to pay cover all their outstanding liabilities (indebtedness) in accordance with Section 155 of the Nigerian Mining and Minerals Act 2007, in which case all necessary steps, including legal action (prosecution), will be taken to recover all outstanding Annual Service Fees or liabilities, as the case may be. case. may be and without further notice. Exponential growth Meanwhile, the agency’s CEO, Simon Nkom, in a recent chat with the media, said the organization had only generated a total of N9.4 billion since taking office in 2019. He said that in 2017, the agency generated N2.13 billion, but saw a decrease of 27.23% (N1.55 billion) in 2018 before he took office. Mr. Nkom noted that the agency generated a total of N2.58 billion in 2019 and that, despite the scathing impact of the devastating coronavirus pandemic, a total of N2.3 billion was generated in 2020. However, despite having more defaulters from title holders in 2021, the agency said it exceeded all expectations by generating N4.3 billion in 2021, saying it ranks as the highest annual income generated by the agency since its creation. Read More Related News Here Let here it in the comment below if you do have an opinion on this; Nigerian government threatens to revoke over 4,000 mining titles