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Nigeria Earned N69.47bn From Solid Minerals In 2018 -NEITI
The Nigeria Extractive Industries Transparency Initiatives (NEITI) said, yesterday, the country earned N69.47billion from the Solid Mineral sector in 2018.
NEITI disclosed this in its latest audit report of the solid minerals sector released in Abuja, indicating that the figure was the highest since NEITI commenced the reconciliation of payments in the sector.
It noted that the figure showed an increase of N16.71billion representing 31.67 percent over the 2017 revenue of N52.76billion.
“The earnings N69.47billion also accounted for 16.69 percent of the total revenues N416.3billion that accrued to the sector from 2007 to 2018,’’ it said.
The audit report reconciled companies’ payments and government’s receipts from the sector in 2018 as well as tracked production volumes and trends of revenues from the sector to the federation account from 2007 to 2018.
A breakdown of the figure showed that taxes to the Federal Inland Revenue Service (FIRS) accounted for N65.69billion 94.56 percent of the total while fees and royalties paid to the Mines Inspectorate Department (MID) and Mining Cadastre Office (MCO) accounted for N2.21billion 3.18 percent and N1.57billion 2.26 percent, respectively.
It revealed that Nigeria had published eight cycles of solid minerals audit reports since it signed up to the NEITI, adding that the sector has contributed N416.32billion in revenues to the federation in 12 years.
It noted that over half of this figure or N279.0billion was earned between 2015 and 2018.
This, it said showed that there had been a remarkable increase in revenues accruing to the Federation from the solid minerals sector over the years.
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RSG INAUGURATES ARMED FORCES REMEMBRANCE DAY COMMITTEE
The Rivers State Government has inaugurated a Central Planning Committee to organize the celebration of the 2026 Armed Forces Remembrance Day (AFRD) in the State.
The committee was formally inaugurated by the Secretary to the State Government, Dr. Benibo Anabraba in Port Harcourt, last Thursday.
Dr Anabraba who also serves as Chairman of the Committee
highlighted the State Government’s deep appreciation for the sacrifices of Nigeria’s fallen heroes who laid down their lives for the nation’s peace and unity.
“These heroes have given their lives for the security and peace of our nation and deserve to be celebrated. The Armed Forces Remembrance Day is an opportunity to show our gratitude for their sacrifice,” he said.
Dr. Anabraba further extended recognition to all Security Agencies in the State, emphasizing the importance of the event in appreciating their contributions to national security and sovereignty.
The annual Armed Forces Remembrance Day, observed on January 15 across the country is dedicated to remember Nigeria’s departed soldiers and honouring the nation’s veterans.
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