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Cadastre office generates N9.384bn in three years, says Nkom

By Ernest Nzor, Abuja
09 March 2022   |   4:28 am
Director-general, Nigeria's Mining Cadastre Office (MCO), Simon Obadiah Nkom, has disclosed that the MCO generated N9.384 billion within a period of three years.

Simon Obadiah Nkom

…Rejects 15,483 applications, revokes 4,997 titles

Director-general, Nigeria’s Mining Cadastre Office (MCO), Simon Obadiah Nkom, has disclosed that the MCO generated N9.384 billion within a period of three years.

It explained that in 2019, N2.580 billion was generated for the federation account, while in 2020, despite the pandemic, MCO surprised everyone by generating N2.303 billion.

Nkom, stated this during a chat with journalists in Abuja, explaining that the right to search for or exploit any mineral in Nigeria is governed by different mineral titles. He also noted that 15,483 applications were rejected, 4,997 revoked while 6,588 active titles are presently in existence.

Nkom, stressed that the agency has been generating revenue for the government, adding that, the MCO was able to generate N2.13 billion in 2017, which dropped sharply to N1.55 billion in 2018.

According to him, in 2019, the office raised the ante by N2.58 billion which was the second highest since inception of MCO in 2007 and despite the COVID-19 pandemic. He said from January to May 2021, the MCO was able to rake in N2.016 billion while by December 31, 2021, the revenue generated rose to N4.3 billion, which was the highest revenue generated ever by the office.

“There is an increase in Mineral Title Application submission, increased revenue generation – N4.301 billion, organizational growth – establishment, and operationalisation of MCO offices in the six geo-political zones of the country.

“We are currently collaborating more closely with other departments and agencies of the Ministry (MID, MEC, ASM, NGSA among others), specifically Mines Inspectorate Department Job creation. A total of 38 staff were employed in the upgrade of the SIGTIM software to the web-base Online Mineral Title Administration and Management system – eMC+Activation and Integration of e-Recording and Archiving of Mineral Title documents,” he said.

He urged the federal government to rethink and concentrate on solid minerals to diversify the economy thereby increasing its revenue base as prices of oil dwindle daily.

“With about 44 minerals, there is a need to invest in accurate data gathering in order to attract the right investors to the solid minerals sector. The concern of the MCO is to be able to imbibe transparency, security of tenure and non-subjectivity, all towards attracting the needed investments in the sector”, he added. He also emphasized the need to generate the needed revenue for the country especially with the support of government and other stakeholders.

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