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BUSINESS & ECONOMY

Mining Sector Contributes N2 Billion To Federation Account

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has revealed that Nigeria’s mining sector has contributed over N2bn into the federation account.

Chairman of the comission, Elias Mbam, disclosed this during a meeting with executive officers of the Miners Association of Nigeria, led by its President, Sani Shehu.

Mbam unveiled plans to collaborate with the association in order to enhance the revenue generation potential of the sector.

Through this collaboration, he said the sector would be able to create jobs as well as improve on the socio-economic living conditions of the people.

Shehu, in his remark, said the neglect of the sector started after the discovery of oil.

“Indeed it is disturbing to observe that our local industries largely depend on imported minerals such as Gypsum, Barite, Talc, Kaolin as their raw materials despite the availability of such minerals in Nigeria,” the statement quoted him to have said.

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