RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

Eradicate Multiple Taxation in Mining Sector – MAN

Rate Captain by Rate Captain
September 27, 2021
in Business, Economics
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

Nigeria’s Economic Reforms Driving Strong Domestic Capital Mobilisation – NGX CEO

CBN Directs International Money Transfer Operators to Open Naira Settlement Accounts with Local Banks

Central Banks Ramp Up Gold Purchases as Geopolitical Risks Fuel De-Dollarisation Drive

Ado Ekiti — The Miners’ Association of Nigeria (MAN), has described dearth of equipment and multiple taxation as main impediments causing low productivity of the solid minerals sector in Nigeria, urging the federal government to tackle the menace for the growth of the economic unit.

The Chairman of MAN,Ekiti Chapter, Mr. Abiodun Elegbede, said the sector, which ought to be money- spinning due to large solid mineral deposits in the country would continue to suffer deficit, except sophisticated equipment are provided and multiple taxation payable by miners are eradicated.

Elegbede spoke in Ado Ekiti on Saturday , at a three-day capacity building organised by African Centre for Leadership, Strategy and Development (center LSD), Abuja in partnership with Ford Foundation for Host community representatives and artisanal miners in Ekiti State.

Elegbede said the training was an eye opener that so many opportunities abound in the solid minerals value chain, if only Nigerians could take advantage of it.

“The most difficult challenges are low access to finance to purchase equipment, multiple taxation, poor orientation, crisis with host communities and many others.

At the training, the Director, Centre LSD, Dr. Umenike Umesi, added that lack of proper legislation and negotiation were responsible for why the mining firms were cheating host communities in the country.

Preaching gender mainstreaming in extractive industry, the expert, said women should be part of the drivers of the industry as policy makers and business owners, saying female folks constitute the largest population of the poor people globally.

Umesi said with proper negotiation and implementation of relevant protective laws, that owners of extractive industries would find it difficult to cheat or neglect their host communities in provision of amenities and employment generation.

Making allusion to environmental degradion causing host communities to protest activities of mining industries, Umesi said: “I could precisely hinge this on poor implementation of our laws and host communities not negotiating properly at the beginning of operations of those firms.

Umesi urged the miners to organise themselves into functional cooperative societies to be able to access funds available for them in the Bank of Industry(BoI).

“They have to negotiate well on what amenities they need, money to be paid, employment to be provided and how they should do these. They should also train their children in line with the minerals in their communities, so that they can have enough knowledge of what are entails and they can be part of the negotiation for proper benefit for that towns”.

Speaking about gender inequality in the industry in Nigeria, with population skewed against women, Umesi added: “About 54,154 women are in the sector in South Africa. We don’t have up to 50,000 in Nigeria despite our population”, he said.

Previous Post

Nigeria’s Economy Cannot Endure N35.46 Trillion Debt

Next Post

Akwa Ibom Governor – 3% Allocation To Oil Communities Poor

Related News

NGX Appoints an Advisory Panel on Digital Technology Products.

Nigeria’s Economic Reforms Driving Strong Domestic Capital Mobilisation – NGX CEO

by Victoria Attah
March 30, 2026
0

The Group Managing Director and Chief Executive Officer of Nigerian Exchange Group (NGX) Plc, Temi Popoola, has said that Nigeria’s...

NEC Affirms CBN $3 Billion Loan for Naira Stability

CBN Directs International Money Transfer Operators to Open Naira Settlement Accounts with Local Banks

by Stephen Akudike
March 25, 2026
0

The Central Bank of Nigeria (CBN) has issued a new directive requiring all International Money Transfer Operators (IMTOs) operating in...

Central Banks Ramp Up Gold Purchases as Geopolitical Risks Fuel De-Dollarisation Drive

by Stephen Akudike
March 25, 2026
0

Central banks worldwide are stepping up their gold-buying activities at a notable pace, with emerging market giants China and India...

Showmax’s Costly Gamble: Platform loses $2.50 for Every $1 Earned in Revenue

Showmax’s Costly Gamble: Platform loses $2.50 for Every $1 Earned in Revenue

by Stephen Akudike
March 10, 2026
0

Showmax, once positioned as Africa's homegrown challenger to global streaming giants like Netflix, has become a stark case study in...

Next Post

Akwa Ibom Governor - 3% Allocation To Oil Communities Poor

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Nigeria Plans New FX Rules, Targeting 750 Naira Exchange Rate

Naira Faces Fresh Pressure as US Dollar Index Climbs to 10-Month High

March 30, 2026
NGX Appoints an Advisory Panel on Digital Technology Products.

Nigeria’s Economic Reforms Driving Strong Domestic Capital Mobilisation – NGX CEO

March 30, 2026

Popular Story

  • Liquidity Crunch: Banking Sector’s Borrowing from CBN Surges to N12 Trillion.

    Banks Raise N4.6 Trillion in Recapitalisation Exercise as Sector Prepares for Lending Battle

    0 shares
    Share 0 Tweet 0
  • Nigeria’s Economic Reforms Driving Strong Domestic Capital Mobilisation – NGX CEO

    0 shares
    Share 0 Tweet 0
  • Naira Faces Fresh Pressure as US Dollar Index Climbs to 10-Month High

    0 shares
    Share 0 Tweet 0
  • US Cuts Nigerian Crude Imports by Nearly 50% in January 2026

    0 shares
    Share 0 Tweet 0
  • World Bank, IMF Urge Nigeria to Strengthen Inflation Control Measures

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>