The Minister of Solid Minerals Development, Dr Dele Alake, said yesterday that efforts were on to block revenue leakages, insisting that all unpaid royalties would be recovered.
Alake made this known during courtesy visit by the Chairman, Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, Mohammed Bello, in his office in Abuja.
According to him, unpaid royalties are running into trillions of naira, and the money will be recovered from the mining companies owing over the years.
He said the visit of the RMAFC boss was very critical at this point to ensure leakages were blocked, saying it would no longer be business as usual.
Alake revealed that the federal government had put in place measures to engage consultants to block the leakages and recover funds.
He said: “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.
“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.”
He reiterated his earlier declaration that there was no going back on sanitizing the mining sector in order to make it contribute substantially to the nation’s revenue, and ensure it rivalled the oil and gas sector in contribution to the nation’s Gross Domestic Product, GDP.
“We are ready to collaborate with you, states, and host communities to maximise the potential of the mining sector for the benefit of all Nigerians. Our focus is to ensure that the industry translates to greater good for the greatest number of our people,” the minister added.
