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Federal Government Approves 13% Derivation For Revenue Generated From Mining - Politics - Nairaland

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Federal Government Approves 13% Derivation For Revenue Generated From Mining by ikorodureporta: 7:25am On Sep 13
The Federal Government of Nigeria has approved a 13 percent derivation to all the states of the federation for revenue generated through mining to encourage collection of mining tax in states.

Minister of State, Mines and Steel Development, Dr Uchechukwu Sampson Ogah, disclosed this when he paid a courtesy visit to Governor Bala Mohammed of Bauchi State during his tour of mining sites to interact with miners and communities.

He said the officials of the ministry were in Bauchi to seek synergy between the state and federal government as it relates to mining in line with the economic diversification agenda of President Muhammadu Buhari.

The Minister told the governor that collaboration between states and federal government as well as community leaders was imperative to smooth mining operations in Nigeria.

“Almost all the minerals are in Bauchi state.

“Bauchi is one of the key states that we are proud of in terms of deposit of mineral resources but our concern is that the resources are yet to be harnessed by the state government due to some challenges,” he acknowledged.

He said the ministry was already promoting the mineral potentials of Bauchi state to serious mining investors who are willing to invest in the state.

“We have visited the areas where the mining ore is being processed and that is why we are preaching that no mineral should be taken out of Nigeria in raw form but have to be processed so that we get all the components to add value to what we are exporting,” he added.

While responding, Governor Mohammed urged the federal government to establish a robust funding mechanism to enable genuine miners access financial interventions, adding that giving financial assistance to genuine miners will go along way towards reducing, tackling and discouraging illegal mining operations in the country.

“We have recognised your passion, energy, drive and determination to make sure you leave the mining sector better than you have found it.
“We have abundant natural resources in Bauchi that, if well harnessed and supported by the federal government, can sustain Nigeria as a whole.”

He said the state government was working to create some value chains around many mining opportunities of the state to increase its revenue generation, adding that despite the abundant natural resources in Bauchi, both the state and the federal government were not benefiting from them because of the activities of illegal miners and advocated for community engagement to overcome the situation.

He noted that his administration will continue to work with the Ministry to provide level playing ground for genuine investors to come and invest in the state for the benefit of both the state and the federal government.
https://dailytrust.com/fg-approves-13-percent-derivation-for-revenue-generated-from-mining

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by LawLab247: 7:29am On Sep 13
Lol. Can we now restructure the country to a true federal state and allow states/regions maximize their potentials? Anyways, for CAC company/business or NGO registration, TIN, SCUML, Copyright, Trademark, NAFDAC etc, reach us at www. eNigeria. org.

3 Likes 3 Shares

Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by Maghan37: 7:42am On Sep 13
Congratulations to the lucky governor's.grin more money for embezzlement.

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by ThatFairGuy1: 7:45am On Sep 13
Hope The State of Virtue is inclusive.

Update the news OP

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by simpleseyi: 8:15am On Sep 13
Good, same as done for Oil

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by Openbusiness: 10:35am On Sep 13
I love Bauchi

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by AmazingELixir: 10:35am On Sep 13
grin


Clueless government they should be talking about resource control and not some stupid 13% derivation.

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by Gkay1(m): 10:36am On Sep 13
more money for embezzlement for the state governors.

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by socialmediaman: 10:36am On Sep 13
Congratulations to the tyrant and his cabal on their discovery of a new non-oil corruption channel!

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by Kuginzi: 10:36am On Sep 13
Good!!
Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by Guyman02: 10:36am On Sep 13
The North already owns 100% of the proceeds from mining, this is just a camouflage to make it look as if FG is now generating huge sums from mining in the North.

Control of mining sites is one of the key sources of the ongoing conflicts in the North and has little to do with religion as bandits are driving away communities for mining activities.
The traditional rulers and local politicians are fully involved and nothing will change soon as FG focus will remain on oil from Niger Delta and taxes from Lagos

69 Likes 6 Shares

Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by omenka(m): 10:36am On Sep 13
Hmmm. Akwa Ibom!! I just might relocate there. This is awesome news to them.

Add this to derivation from oil and that state could easily potentially topple Lagos off the income ladder.

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by Skynet45(m): 10:36am On Sep 13
angry Each state should have control of 100% of the minerals generated there including oil. We need to practice true federalism and chase away this northern leeches . If you notice most of the northern mines are illegal mines set up by the state government so the northerners have full control of their resources, while they stick to the south like a parasite.
samdunzo:
This isn’t restructuring.. implement full resource control with states getting 70% and remitting 30% back to the center
This the best option for nigeria

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by Truthlord12(m): 10:36am On Sep 13
Rubbish

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by inoki247: 10:36am On Sep 13
More wallet don open for the state Government.... State wey no get anything to Minne make dem dey Minne Cow
Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by horsepower102: 10:37am On Sep 13
This is old news and already happened under GEJ's administration. Why do they keep re-announcing it? Just to sound like they are doing something.

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by fulanimafia: 10:37am On Sep 13
Very very good news.

All must be done to encourage economic diversification.

Zamfara with the lowest federal allocation is about to get a whole lot richer.

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by tunjijones(m): 10:39am On Sep 13
omenka:
Hmmm. Akwa Ibom!! I just might relocate there. This is awesome news to them.

Add this to derivation from oil and that state could easily potentially topple Lagos off the income ladder.

This one go hard ooo. For ibom to topple lag.

3 Likes

Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by Timekeeper: 10:43am On Sep 13
Nice one
Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by lightheart(m): 10:43am On Sep 13
Great news.
Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by flyingpig: 10:44am On Sep 13
omenka:
Hmmm. Akwa Ibom!! I just might relocate there. This is awesome news to them.

Add this to derivation from oil and that state could easily potentially topple Lagos off the income ladder.
Bauchi is the state in contention here, not Akwa Ibom. I'm not too informed about minerals in Akwa Ibom. Basically off shore oil only.

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by Rugaria: 10:44am On Sep 13
No endless protests to get the attention of the government on this one. The war to get 13% derivation for oil producing areas took almost half a century. Most solid minerals are in the north, obviously that makes such decision making pretty easy.

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by sanmtiago(m): 10:44am On Sep 13
undecidedu
Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by omenka(m): 10:44am On Sep 13
tunjijones:


This one go hard ooo. For ibom to topple lag.
Hard, yes. Possible, yeah. Never say never o. The state has great potentials.

1 Like 1 Share

Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by Gamezi(m): 10:45am On Sep 13
Scam approved, all in their pocket sooner or later sad

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by SmartPolician: 10:45am On Sep 13
APC and Buhari should stop this NONSENSE and restructure this country. It is clearly captured in APC manifesto.

People have to start controlling their resources and be paying taxes to the centre. Nigeria needs to decentralize her power to make central power less attractive.


BTW, if the next president comes from the south and does not make any move to restructure the country, we will have to live in this country the way it is for a long time.

3 Likes 1 Share

Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by Rugaria: 10:47am On Sep 13
flyingpig:
Bauchi is the state in contention here, not Akwa Ibom. I'm not too informed about minerals in Akwa Ibom. Basically off shore oil only.

The solid minerals states should go without any derivation fund for the same period the oil producing states endured theirs..., That way entitled entities in Nigeria will learn the need to be altruistic in the process of decision making. We need to take income from zamfaras gold to develop Calabar as that of the Delta is being used to develop Kaduna and Kano.

9 Likes 1 Share

Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by iLegendd: 10:48am On Sep 13
Okay.
Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by BLAISECAMPAORE: 10:48am On Sep 13
Rugaria:
No endless protests to get the attention of the government on this one. The war to get 13% derivation for oil producing areas took almost half a century. Most solid minerals are in the north, obviously that makes such decision making pretty easy.

Brains over brawn any day.

2 Likes

Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by tunjijones(m): 10:48am On Sep 13
omenka:
Hard, yes. Possible, yeah. Never say never o. The state has great potentials.

And Lagos does not have potentials?

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Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by isthatso: 10:49am On Sep 13
So as a governor, I give you my land to a multinational company to mine, they invest in machinery which doesn’t employ many highly paid people, so I get very little from income taxes, If they make huge profits, the corporate taxes go to federal and I get only 13%?

Now you see why large scale legal mining can never take off under the current structure and we will always be talking of potential, forever listing the minerals we are blessed with?

6 Likes 1 Share

Re: Federal Government Approves 13% Derivation For Revenue Generated From Mining by hmohammed(m): 10:50am On Sep 13
Skynet45:
angry Each state should have control of 100% of the minerals generated there including oil. We need to practice true federalism and chase away this northern leeches . If you notice most of the northern mines are illegal mines set up by the state government so the northerners have full control of their resources, while they stick to the south like a parasite.

I respect you guys and your stupid conspiracy theories without fact. One idiot will just sit in is home and cook all manners of useless stories just to suit his believe.

5 Likes

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