The Revenue Mobilization Allocation and Fiscal Commission has called for a review of the Nigeria Mining Act; noting that activities of mining investors contribute significantly to the loss of revenue in the country.
Speaking at a nationwide monitoring of revenue collection and activities of miners at the state and local government levels, federal commissioner of the commission, Abdulazeez Idris said many investors hold lease rights with no significant contribution to the nation’s revenue base.
Kogi State is home to about thirty solid minerals available in large commercial quantities, a development that makes the state host to several manufacturing companies who derive their raw materials from the state.
Represented by his Deputy Edward Onoja, Kogi State Governor, Yahaya Bello harped on the need for accurate data on the amount of minerals explored from the state as such will boost the revenue accruing to the state.
Commissioner for Finance, Budget and Economic Planning, Asiwaju Idris commented on the efforts put in place by the state government aimed at blocking leakages in the mining sector.
Two cement companies, at least three ceramic factories and several other companies explore raw materials in solid state from Kogi State for their production but lack of monitoring has made them return little or nothing to the government, a development this gathering seeks to address.
( Editor, Omor Bazuaye)
