FG: Solid Minerals Can Save Nigeria from Dwindling Oil Fortune

As crude oil price continues to nose-dive, the federal government has said the much-needed diversification of the economy from oil can be achieved with deliberate commitment to utilising the mass deposit of solid minerals in virtually every state in the country.

Speaking during his opening remarks at a three-day professional development workshop for mining engineers in Nigeria taking place in Jos, Plateau State capital, the Minister of Mines and Steels Development, Musa Mohammed Sada, said

Solid Minerals Producing States to Enjoy 13% Derivation

States endowed with solid minerals will soon join their Niger Delta counterparts to enjoy 13 per cent revenue allocation from the federation revenues.

The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mr. Elias Mbam, disclosed on Thursday  that the sharing formula was being worked out.

He hosted members of the House of Representatives Committee on Finance who paid an oversight visit to the commission.

Some of the solid mineral producing states include Benue, Niger, Plateau, Nasarawa, Ogun, Taraba and Kaduna. Others are Kwara, Enugu, Zamfara, Kogi, Bauchi, Gombe, Osun and the Federal Capital Territory (FCT).

According to Mbam, the commission was working closely with