The Director-General of the Nigeria Mining Cadastre Office (MCO), Obadiah Simon Nkom, has disclosed that the MCO generated N1.262 billion between January and April 2022.

He noted that the country currently has 7,200 valid mineral titles.

Nkom disclosed this in Abuja at a media interaction with journalists on the activities of the agency.

He noted that MCO was working closely with geological survey to have reports that would help in updating their geological information.

He said: “Our revenue as at April 2022 on the slow start is N1.26 billion. As regards mineral titles, today, we have 7200 valid mineral titles. I don’t mind having 1000 titles, but active titles that are working in the field. So it is not by the number.

“It’s by active activity. And to be fair to some people, they have reasons for the funding aspect. The funds itself did not come in the way they planned. They are projected to be able to get from money to work and mining is capital-intensive.

“So, sometimes they get to a point where they get hooked; that is why you find that the ministry has interventions from the Bank of Industry, by giving out loans to artisans and small-scale operators,” he said.