Mining Title Administration Critical To Development Of Mining Sector

By Georgina Humphrey 

The Federal Government says transparency with the Mining Title Administration is critical to the development of the mining sector.

The Director General of the Nigeria Mining Cadastre Office, NMCO, stated this at the second day of the ongoing mining week holding in Abuja.

According to Nkom if Nigeria gets it right in mining title administration it will boost the economy and attract more investments locally and globally.

“If licensing is not transparent enough, then there is no way it will be able to actually attract the needed investment, particularly in the sector, and as long as we get it wrong in the mining title administration, then it becomes a big problem” Nkom added.

“But as it relates to mining licenses, the nation’s Transparency Initiative, we work very closely with them because once title administration, like I said, is not transparent then there’s no way people will be able to come and invest, at the same time. There is the concept of people having licenses or not actually using it”.

The NMCO boss explained that the government has established laws on license withdrawals.

“There are two ways you can lose a license, first of all, non payment of service fees, and the second one is dormant activities in addition to other obligations which is spelled out clearly in the app. That is why one of our key principles in the mining cadastre “Is use it or you lose it” because at the end of the day, if you don’t use the license, you lose it” Nkom stressed.

“The most important thing at the end of the day is that we need to be able to open up the minds of people who are holding licenses and lack the technical capability”.

“After six months or one year you’ll find out that they needed funding. So at the end of the day, it affects your activities”.

He emphasized that the mining Cadastre office is operating the EMC plus an online platform to promote transparency.

“What I see in the mining industry is what you see even in your phones or even back in Canada or anywhere in the world. And as such, once you are able to now have that system in place, which is one of its kind it is going to boost investments in the sector” Nkom added.

Speaking on the benefits of the mining week to stakeholders, he noted that the event would provide an avenue for investors to interact and showcase their potential for both local and international investors.

Edited By Grace Namiji