NEITI generates N199b in seven years

The Solid Mineral Sector generated N199 billion from 2007 to 2014, says the Nigerian Extractive Initiative Transparency Initiative.
Dr. Orji Orji, the Director of Communications, NEITI, disclosed this to the News Agency of Nigeria on the sideline of the ongoing Nigeria Mining Week on Wednesday in Abuja.
Orji said N8.194 billion was generated in 2007; N9.581 billion in 2008; N19.425 billion in 2009; N17.367 billion in 2010; N23.674 billion in 2011; N31.4 49 billion in 2012; N33.862 billion in 2013; and N55.814 billion in 2014.
This brings it to N199.366 billion in the seven years.
Orji said 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.
He said: “We draw the attention of the affected agencies to revenue leakages and also the attention of the Federal Inland Revenue Service, Office of the Accountant General, Central Bank of Nigeria and the Ministry of Finance.
“As an agency, we can’t be everywhere, but we work with affected agencies to address leakages.”
Orji said 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.