The federal government has warned formalised miners operating in the country to henceforth comply strictly to taxation laws guiding mining operations or risk revocation of their operational licenses.
The minister of Mines and Steel Development, Musa Sada, who gave the warning during an oversight visit to the office of Tongyi Allied Mining company yesterday in Abuja said, government expects that the mining sector contributes at least two per cent of the nation’s gross domestic product (GDP) given the revolution surrounding it.
“ This visit is aimed at satisfying government expectations of accessing companies that are formally permitted to operate by way of ensuring that they pay taxes to boost our nation’s revenue.
“Counting from now, federal government expects that if these companies keep faith with winning acts, at least two per cent of the country’s GDP will come from the mining sector. To achieve this dream, we will not relent in tracking gauntlets and withdrawing their rights,” . Sada stated.
He explained that while government intends to diversify the sector, it was bent on ensuring that miners adhered strictly to host communities’ development agreement to further boost national growth.