The Nigerian government has announced that it is owed trillions of naira in unpaid royalties and taxes by legalised operators within the mining industry.
Dr. Dele Alake, the Minister of Solid Minerals Development, disclosed this information during a recent courtesy visit by Mohammed Bello, the Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).
Dr. Alake emphasized the government’s commitment to addressing revenue leakages and ensuring the recovery of all outstanding royalties.
During the meeting, he stated, “From our efforts so far, we have discovered to our chagrin that we are owed trillions of naira in unpaid royalties and taxes by legalised operators.” This revelation underscores the magnitude of financial discrepancies within the mining sector.
To tackle this issue, the government is taking proactive measures, including engaging consultants to plug revenue leakages and initiate the recovery process.
“We are committed to recovering these funds and also in the process of engaging internationally certified auditors to look at the system and automate the whole gamut of the revenue collection processes.”
Dr. Alake also revealed plans to enlist internationally certified auditors to thoroughly examine the revenue collection system and implement automation for a more robust and transparent process.
