Solid minerals sector generates N10.8bn in 2015 — RMAFC

33

The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC)
said on Friday that the solid minerals sector generated 10.8 billion
in 2015.
The acting Chairman of the commission, Mr Shettimma Abba-Gana,
disclosed this in an interview in Abuja.
He said that the states that contributed to the revenue generated had
been paid 13 percent of the sum based on the principle of derivation.
According to him, the derivation principle affected both the oil
mineral producing states and those producing solid minerals as well.
“Some states did not generate much but some states did generate a lot
and those states got some money.
“So virtually all the states, any revenue that came to the federation
account from that N10.8 billion, states got their 13 percent.
“But that is the beginning, they now know that they can get it so
they will also now begin to monitor more and more whatever revenues in
solid minerals in their states will now come into this.
“Virtually every state in the federation has some solid minerals to
varying degree and to varying types and so no state should be idle,
every state has something.
“Therefore if states begin to show interest in those solid minerals
in their states, they can look for investors.
“They can partner with those investors, invite them, encourage them,
create an enabling environment for those investors to come and work on
those solid minerals in the state.’’
The acting chairman noted that the review of the 2008 remuneration
packages, which began in 2015, had been concluded but was yet to be
presented to President Muhammadu Buhari.
“We have concluded it and are putting finishing touches to it and as
soon as that is done we will present it to the president and he will
present it to the National Assembly.’’
Abba-Gana said that in 2016 the commission would be more aggressive in
all its monitoring and verification activities to ensure all relevant
agencies made the statutory remittances to the Federation Account.
He also said that the commission recommended to the Federal Government
that new agencies should be added to those generating revenue for the
Federal Government.
Some of the agencies are Nigerian Maritime Administration and safety
Agency; Securities and Exchange Commission; and the Nigerian
Communications Commission.
Some others are: Nigerian Postal Service, Federal Airport Authority of
Nigeria, and the Nigerian Ports Authority.
He said that the commission also recommended that the Acts and laws
establishing some of those agencies should be reviewed for better
output.
“What the Act has done is to allow those agencies to earn their
revenue, spend their revenue and only remit a surplus to the
federation account, but quite a lot of them hardly have a surplus to
remit.
“So we want to make sure that since other agencies and parts of
government are going to spend less because of the decline in oil
price, those agencies also have to spend less.
“We have to make sure that as much as possible beyond what they need
as absolutely essential, it has to go into the federation account.’’
Abba-Gana also said that the commission would ensure that it reduced
leakage and wastage through government spending. (NAN)

Comments are closed.