Buhari Government Approves 13% Derivation Revenue for Solid Mineral States
Federal Government Supports 13% Mineral Revenue Derivation
The Nigerian Government has given support for the implementation of the 13% constitutionally guaranteed derivation from mineral revenues to deserving states.
Minister of Mines and Steel Development, Dr. Kayode Fayemi, said this in Sokoto at a two-day workshop aimed at encouraging beneficial involvements of state governments in natural resources governance, themed “Special Purpose Vehicles (SPVs) in the development of mining sector”.
“This is approval is similar to the derivation that oil-producing states are currently enjoying from the Federation Account,” he stated.
Fayemi further said that the Federal Government was working to build the capacity of state governments in the structuring of the vehicles to be used for mining in their jurisdictions without undermining private sector players within their states.
Sokoto State Governor Promises Support
Sokoto State Governor Aminu Tambuwal promised that his state would partner the Federal Government to formalise and manage the local miners.
He assured that the government would work with defence and security agencies to eliminate illegal mining in the state.
The State commissioner for Solid Minerals and Natural Resources Development, Alhaji Bello Goronyo, said the programme was part of joint efforts by the federal and state governments to diversify the Nigerian economy by the effective use of solid mineral resources by exploring, mapping and identifying locations of the minerals in the state.
He said the state government had support the ministry to enable it to execute its duties hitch-free.