By Joyce Remi-Babayeju
A new audit report released on Monday in Abuja by the Extractive Industries Transparency Initiative, NEITl, Report has shown that Solid Minerals sector generated the sum of N193.59 billion in 2021.
The Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji disclosed this yesterday in Abuja at the Unveiling of the 2021 NEITI Solid Minerals Industry Report.
He said that the essence of the NEITI report is to keep drawing national focus to where there is money instead of borrowing from outside.
Orji stated that the Solid Minerals sector of the economy showed an increase in revenue generation from 51.89 percent in 2021 as compared to N216.82 billion in 2020.
He during the highlight on the report,Orji stated that Ogun state recorded the highest production in 2021, with a total of 17.5 trillion tons, followed by Kogi state with 16.3 million tons and Edo state with 8 million tons.
According to the NEITI lead, the Solid Minerals report disclosed that the total volume of solid minerals used or sold in 2021 was 76.28 million with the royalty payment of 3.57 million, adding that minerals with the largest production volume were Granite, limestone, laterite,clay and sand.
In a breakdown of the revenue of the Federation account, the Report indicates that the Federal Inland Revenue, FIRS, generated 169.52 billion Naira, while mining Cadastral office, MCO and Mining inspectorate department, generated 4.3 billion Naira respectively. The Mining Inspectorate deployment generated 3.62 billion Naira.
Orji, appealed to the National Assembly, to review the report and hold entities that are responsible for the failure in the sector to account.
The Secretary to the Government of the Federation, SGF, Senator George Akume, represented by the Permanent Secretary, General Services, Dr. Morris Mbere, commended the Nigerian Extractive Industry Initiative, NEITI, feat in successfully implementing its mandate over the years, and advocated for a strengthened collaboration between NEITI, the Extractive Industry Initiative, EITI and other stakeholders, to sustain Global standards and best practices in the Extractive industry.
Furthermore, Chairman Senate Committee on Solid Minerals, Enugu West, Senator Osita Ngwu, promised that the Committee will work with the Solid Ministry, to turn the tide and rejig the enabling laws, to remove the turbulence that mitigating against the success of the Sector and Global best practices.
