The Minister of Mines and Steel Development, Olamilekan Adegbite, has disclosed that the Mining Cadastre Office has improved its revenue from mining licences from N2.3bn in 2020 to N3.88bn as of October 31, 2021, adding that about 1,566 licences have been revoked. He disclosed this while giving his keynote address at the fifth edition of the Nigeria Mining Week on Tuesday. According to the minister, the Mining Cadastre Office has enhanced the process of mineral title acquisition and administration. He said, “The Mining Cadastre Office has been repositioned to promote transparency in mineral title administration. This has activated many dormant licences and increased revenue inflow into the treasury.”The PUNCH had exclusively reported in September that about 5,793 inactive mining licences were revoked in six years.

Source: Punch November 17, 2021 20:40 UTC