NEITI Generates 199bn In 7 Years

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The  Solid Mineral Sector generated N199 billion from 2007 to 2014, said  the Nigerian Extractive Initiative Transparency Initiative (NEITI).

Dr Orji Orji, Director of Communications, NEITI, disclosed this to the News Agency of Nigeria (NAN) on the sideline of the on-going Nigeria Mining Week on Wednesday in Abuja.

He said in 2007, solid mineral sector generated the amount through NEITI;  N8.194bn was generated in 2007; 9.581bn in 2008; 19.425bn in 2009; 17.367bn in 2010; 23.674bn in 2011; 31.4 49bn in 2012; 33.862bn in 2013 and 55.814bn in 2014, bringing it to 199.366bn realised from 2007 to 2014.

He said that NEITI made tremendous efforts in the solid mineral sector to acquire such amount, adding that the sector was experiencing improper record of minerals until the introduction of NEITI.

He said that NEITI had been able to block many leakages identified in all affected agencies.

“We draw the attention of the affected agencies with revenue leakages and also the attention of the Federal Inland Revenue Service (FIRS), Office of the Accountant General, Central Bank and the Ministry of Finance.

“As an agency, we can’t be everywhere, but we work with affected agencies to address leakages,’’ he said.

He said that full effective implementation of the Mining Roadmap would help the sold mineral sector to address illegal exportation of minerals, tax and royalty being made from mining investors on yearly basis.

He said the ministry needed support from investors, donor agencies, civil society organisations and the media to help the sector to achieve full implementation of its roadmap (NAN)

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