Mining Agency Makes N1.63bn …As Title Rises To 7,200

The Nigerian Mining Cadastre Office (NMCO) has said that it generated N1.63billion as at April this year, as the number of valid title has increased.
Director General of the agency, Obadiah Nkom, who disclosed this  in an official document  made available to newsmen, said the number of valid mineral titles in Nigeria is currently about 7,200.
This is a slight increase from about 7,017 mineral titles in 2021, according to the official document of the NMCO
“Our revenue as at the end of April 2022, on a slow start, is N1.262bn and as at today, we have 7,200 valid mineral titles.
“The Mining Cadastre Office is responsible for the management and administration of mineral titles.
“The agency also keeps a chronological record of all applications for mineral titles in a priority register, which ensures the agency treats all applications on a first come first served basis and equally applies the principle of ‘use it or lose it’ to mineral titles”, Nkom said.
He further noted that the agency is in consultation with some Germany-based experts on developing an application that would boost the application for mineral titles in Nigeria.
He added that the launch of the application should have been done two years ago but was hampered by the COVID-19 pandemic.
“The launching we are talking about, we would have done it two years ago but COVID came, and it hampered the process completely.
“You know there was a complete shutdown, and the consultants are based in Germany. I think this is the first time we had a physical meeting with them in South Africa. We have had virtual meetings with them consistently,” he explained.

The DG NMCO also said that the application should be ready in the next two months to ensure a seamless online application for mineral titles in Nigeria.