NEITI Report: Minister Applauds Staff on Revenue Increase

The Minister of Mines and Steel Development, Mr. Olamilekan Adegbite, has applauded the staff of the sector for contributing and setting a new record for mining revenue generation as reported by the Nigeria Extractive Industries Transparency Initiative (NEITI).

Adegbite also charged the staff of the ministry to improve on their services in order to surpass its 2020 contribution to the country’s Gross Domestic Product (GDP).


In his address at an event to mark the African Public Service Day celebration in Abuja Wednesday, with the theme: ‘Developing Technology to Sustain Enhanced Service Delivery in the Face of COVID-19 Pandemic Climate’, he disclosed that with the immense inputs of the management, staff and agencies in the realisation of the ministry’s mandate, the solid mineral sector has contributed to the current growth of GDP of the federal government beating its old record

According to him, “I was reading the NEITI report that said that our sector has contributed and set a new record, beating our old record anyway. In terms of contribution to the country and I think this is not possible without the effort of all members staff of the sector, not just of the ministry including our parastatals and other agencies that are there. I think it’s well deserved and I say congratulations.”

Adegbite, while speaking further at the event with awards presented to deserving staff of batch 2021 retirees of the ministry, said: “You see, for every kudos given to service in the ministry, it calls for a higher duty and improvement in what has been achieved,” adding tha the ministry must surpass the goals of 2020, this year.

“What this means is that we must improve on what we achieved in 2020. Because, this report is actually talking about 2020 and what that means is that, next year, we must surpass the goal of 2020. We are about half way through and what it means is that we must guide our loins and we do our bit. There is no work that is insignificant,” he said.

The NEITI report had revealed that

revenue from the solid minerals sector grew by 15 per cent to hit N79.96 billion in 2019.

The 2019 audit report of the solid minerals sector also stated that revenue from the sector in 2018 was N69.47 billion.

It disclosed that the 2019 earnings accounted for 16 per cent of the total revenue of N496.28 billion which accrued to the federation from the sector over the period of 13 years (2007 to 2019) and is also the highest since 2007 when it commenced reconciliation of payments in the solid minerals sector.

Despite the increase, the solid minerals sector accounted for just 0.51 per cent of total export in 2019, as the report showed that the sector recorded N124.23 billion of the total government exports of N24.275 trillion.

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