Nigeria’s Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) has stressed the need to diversify the nation’s revenue sources beyond the perpetual over dependence on hydro carbon sources.
The Chairman of the Commission, Mohammed B. Shehu; made the call in Asaba at a one-day sensitization exercise on the implementation of new solid mineral data rendition templates for effective revenue monitoring.
Shehu noted that revenue from hydro carbon sources was often plagued by the vagaries of the international oil market, as well as shut-ins resulting from pipeline vandalism and crude oil theft, which explained why the Tinubu administration had placed the harnessing of revenue potentials from other sectors of the country’s economy, solid minerals, agriculture, tourism, manufacturing, blue economy, amongst others, at the front-burner in order to broaden the country’s revenue base.
RMAFC Chairman, who was represented by the Federal Commissioner representing Delta State in the Commission, Barr. Aruviere Martin Egharhevwa; said
the implementation of the new data rendition templates could not have come at a better time, given the current economic difficulties the country was experiencing at the moment.
He pointed out that RMAFC was saddled with mandates that cut across the three (3) tiers of Government as enshrined in the 1999 Constitution of the Federal Republic of Nigeria (As Amended), including to “monitor accruals into and disbursements of revenue from the Federation Account.
“It is worthy of note, that in the quest to achieve the above mentioned mandate in the country’s mining space, the Commission has in the last decade in 2016 (Phase 1) and 2022 (Phase II) conducted Two (2) nationwide solid mineral revenue monitoring exercises, with the intention of pushing upwards, revenue generated from the country’s mining sector. I am delighted to state that these efforts have considerably improved revenue generation from the sector.
“It has been established that, despite the extent of activities going on in the country’s mining sector, it contributes only a negligible amount to the Federation Account, largely due to the lack of proper and effective monitoring of mining activities. Hence, it is the intention of the RMAFC, to work assiduously to ensure that all revenues due to the Federation Account from the mining sector are promptly remitted into the Federation’s distributable pool account as at when due.
“The new data rendition templates are designed to capture and manage relevant data with regards to specific measurement of quantity of minerals produced, producing companies and their locations, particular licenses, fees and permits paid by mining companies. These data we believe, if properly managed/utilized, will go a long way in ensuring that mining operations and revenues therefrom, are more effectively tracked and accounted for”, Shehu stated.
The Chairman said RMAFC was using the sensitization exercise to engage with its partners in the country’s mining sector, to unveil the implementation of the new data rendition templates, develop the necessary synergy required to boost mining operations and resultant revenues accruable.
He revealed that the programme would subsequently be replicated in the six (6) geopolitical zones of the country, to engage in critical discussions geared towards harnessing the full potential of mining revenues nationwide.
Shehu expressed profound gratitude to the Minister, Ministry of Solid Minerals Development (MSMD), the Director-General of the Mining Cadastre Office (MCQ) and all other relevant stakeholders, whose collaborative efforts made the event a reality.
In a welcome address, the Federal Commissioner and Chairman, Solid Mineral Monitoring Committee of RMAFC, organizers of the Programme, Hon Ibrahim B. B. Shettima, said the event was informed by the need to bridge the observed gaps in the rendition of timely and accurate revenue data on a State-by-State basis by agencies of government and operators in the solid mineral sector.
Hon Shettima added that the exercise was also primarily aimed at ensuring the existence of a platform for an independent data source for the Commission, which would be free of summation errors and could be used for comparison and as an advanced information for attribution purposes.
“It is therefore imperative that the perceived discrepancies in the figures submitted by State Governments and the Ministry of Solid Minerals Development as revenue from the Solid Mineral sector into the Federation Account be addressed through the use of a uniform solid minerals data rendition template which will specify the scale of measurement used to report quantity, actual location of production asides State, the company mining the mineral and the rate being sold per unit of measurement, to enhance effective revenue monitoring.
“We believe strongly that monitoring revenue from critical areas such as the solid mineral sector through a harmonized rendition template is a step in the right directions towards achieving the Commission’s mandate. Over the course of this sensitization exercise and the subsequent ones that will concurrently follow in the six geo-political zones of the country, we will be engaging in critical discussions, sharing best practices and opinions in terms of solid minerals data rendition, and forging partnerships that will undoubtedly contribute to the overall progress and development of the solid minerals sector and indeed Nigeria.
“I urge all participants to actively contribute their expertise and perspectives to the discourse. Let this be an occasion for constructive dialogue, meaningful connections, and a shared commitment to transforming our nation for the benefit of all Nigerians”, the Solid Mineral Monitoring Committee Chairman said.
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