The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that the Solid Minerals sector requires a robust fiscal regime built on comprehensive reform to expand the revenue generation base for the nation. The Acting Executive Secretary, NEITI, Orji Ogbonnaya Orji, who stated this during a courtesy visit to Minister of Solid Minerals Development, Kayode Fayemi, called on the ministry to commence a comprehensive programme for the mining industry in the phase of the collapse of oil prices. Orji explained that from the scoping study conducted and series of independent oil reports by NEITI, the solid minerals sector had contributed poorly to national purse in recent years and therefore requires extensive reforms to bolster activities in the industry. According to him, the NEITI reports indicated that, “the sector reforms should include periodic review of royalty rates to conform with market prices encouraging companies to declare accurately what they ear...
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