Nigeria's Minister of Mines and Steel Development, Dr Kayode Fayemi, derivation
Nigeria’s Minister of Mines and Steel Development, Dr Kayode Fayemi,

By Andah John with agency report

The Federal Government has approved the implementation of 13 per cent derivation from mineral revenues to deserving states.

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Minister of Mines and Steel Development, Dr Kayode Fayemi, announced this on Tuesday at a 2-day workshop on Special Purpose Vehicles (SPVs) in the development of mining sector in Sokoto.

He said the workshop would encourage beneficial participation of state governments in natural resources governance.

Ministry has got the approval

“We have gotten approval for the implementation of the constitutionally guaranteed 13 per cent derivation for mineral revenue to states.

“This is similar to the derivation that oil-producing states are currently enjoying from the Federation Account.

Fayemi also said the Federal Government was working closely to build the capacity of state governments in mining.

He further said this was without undermining private sector players nor discouraging mining enterprise within their states.

Sokoto to partner FG in mining

Meanwhile, Governor Aminu Tambuwal said the state would work with the Federal Government to formalise and manage the artisanal miners.

Tambuwal assured that the government would also work with defence and security agencies to curb illegal mining in the state.

On his part, Bello Goronyo, the state Commissioner for Solid Minerals and Natural Resources Development, said the programme was part of efforts by the federal and state governments to diversify their economies through effective use of the solid mineral resources.

Diversifying economy

Goronyo noted that the state government had taken a giant stride in the drive to diversifying the state’s economy. He then said that this would be achieved through exploration, mapping and identification of the locations of the minerals in the state.

He further explained that the state government had given the ministry all necessary support and cooperation. This, according to him, is to enable it discharge its duties without hitches.