Business News

Nigeria Earns N16.4bn from Mining Royalty—Alake

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By Adedapo Adesanya The Minister of Solid Minerals Development, Mr Dele Alake has disclosed that the federal government has generated a total of N16.4 billion from May 2023 to April 2024 from mining royalty and sundry fees through the Mining Cadastral Office (MCO), an agency under the ministry that is in charge of mineral title administration. Mr Alake disclosed this as part of the sectoral updates series to mark the first anniversary of President Bola Tinubu’s administration in Abuja. He said the above figure was a surplus of N6.7 billion over and above the target of N10.5 billion set for