The Nigeria Extractive Industries Transparency Initiative on Sunday announced that 2,119 companies operating in Nigeria’s solid minerals industry were indebted to the federation to the tune of over N2.76bn.
The agency stated in a statement issued in Abuja that the companies’ liabilities resulted from failure on the part of the 2,119 firms to pay statutory annual service fees for various mineral titles. The NEITI report, which was presented multi-stakeholders in Abuja by the agency’s Executive Secretary, Orji Ogbonnaya-Orji, indicated that the total revenue contributions from the sector in 2020 rose to N128.27bn, an increase of over 54 per cent from the N74.85bn recorded in 2019 despite the COVID-19 pandemic.
A breakdown of the figure showed that the Federal Government received N4.07bn , states and Local Governments received N2.07bn and N1.59bn respectively, while N1.16bn was recorded as derivation share.
Tell me where are the so called technocrats in this country?. If a poor woman in the village that happens to have electricity, the light is cut off once she owes a kobo. In government, the politicians are looting left right and centre. Who are those in charge of these industries
So what is obstructing them from collecting the money.