The Nigeria Mining Cadastre Office (MCO) said it had generated over N2 billion from January to June, as against the N1.5 billion target set for the office.
The Director-General of MCO, Mr Obadiah Nkom, disclosed this in an interactive session with the media on Wednesday in Abuja.
Nkom said that MCO generated N2. 02 billion within six months, as against the target set by the Federal Government for the office to generate in 2021.
He said the office was able to exceed the target within half of the year through enforcing its law on mining investors that owed debts, issuance of lice
nces, application fees for exploration, annual service fees among others
He said that MCO generated N2.58 billion in 2019 which was the high generated in the history of the office, while the office generated N2.303 billion in 2020 which was the second highest.
“What we generated in 2020 would have exceeded what we realised in 2019 but due to COVID-19, we were unable to do much.
” The amount realised in 2019 and 2020 was as a result of total support I got from my ministers because they gave me total support I needed to operate,’’ he said.
According to him, MCO is an independent autonomous agency shouldered with the administration of the issuance of mineral titles all over the country.
He said the Federal Government established MCO to ensure transparency, encourage mining investors among others.
Nkom said to make the issuance of mining licences transparent and to encourage investors, MCO approved five different mining licences, while the minister of Mines and Steel Development approves the mining lease.
“Since the inception of the cadastre, we have moved from analogue way back from 2005 transformed in line with the mining law into the cadastre system in 2007.
“From 2007 up to 2012, the system was computerised in such a way that it will be able to work according to international best practices, but it was not online.
“But sometime in 2017, with the intervention of the Mineral Sector Support for Economic Diversification Project (MinDiver) World Bank project, in collaboration with the Federal government signed a contract to migrate the system into the online system.
“The contract started toward the end of 2017 and in the same 2017 the process commences to move our hard copy documents into e-formats and archived them so that we will not be looking for documents here and there,’’ he said.
“As I am talking to you now, we have six zonal offices in the six geopolitical zones which include, Borno, Jos, Kaduna, Benin, Enugu and Ibadan.
“The offices have been fully equipped with trained staff in preparation for the launch of the system by November. (NAN)