Mining Cadastre Generated N11.573bn in Six Years, Says DG
The Mining Cadastre Office (MCO) yesterday hinted that it has so far generated the sum of N11.573 billion in six years.
This is even as it added that it has also generated the sum of N2.016 billion in the first half of 2021.
The Director-General, Nigeria Mining Cadastre Office (MCO), Simon Obadiah Nkom, made the disclosure yesterday during a media round table chat with selected journalists in his office.
Nkom noted that when it comes to revenue generated, “in 2019, N2.580 billion was generated for the federation account, and for 2020, which was the period of the pandemic, we surprised everyone by generating N2.303 billion, which was the second highest we have had despite the lockdown, and in the first half of this year 2021, we have generated N2.016.”
The MCO boss, while given the breakdown of revenue generated within the period of six years by the office, stressed that the sum of N1.15 billion was generated in 2016, and that it rose to N2.13 billion in 2017, but drop sharply to the sum of N1.55 billion in 2018.
According to him, in 2019, the office was able to raise N2.58 billion, and despite the COVID-19 pandemic, its revenue generation stood at N2.303 billion.
He, however, said so far, within January to May 2021, it has been able to rake in N2.016 billion.
On mineral titles, Nkom observed that: “Presently, 6,588 are active, if I give you an overview of the entire statistics from inception, I think it will guide us by giving us a picture of what we are talking about because statistically, over 34,000 applications have been received from inception.”
He added that 15,483 applications were rejected, 4,997 were revoked and 6,588 active titles are presently in existence.