Dangote leads in solid mineral royalty payment in 2019 – NEITI

Aliko Dangote

The Nigeria Extractive Industries Transparency Initiative (NEITI), in Lagos has revealed that Dangote Cement Plc contributed 25.40 per cent of the Royalties received from Nigeria’s solid mineral sector with a payment of N635.52 million, in the year 2019.

NEITI, said overall, Nigeria earned a total of N79.9 billion from the solid minerals its latest audit report showed.

The report was presented to the Media and Civil Society Organisations by Dr Dieter Bassi, Director, Technical, NEITI.

The report showed that the revenue was 13.02 per cent higher than the N69.5 billion realised in 2018 and that the royalties received increased from N1.96 billion in 2018 to N2.50 billion in 2019.

According to NEITI, the 2019 report covered 74 entities, an increase from the 69 captured in 2018, while production volume rose to 59.83 million tons in 2019 compared to the 40.7 million tons recorded in 2018.

Analysis contained in the report disclosed that export volume production in 2019 was 7.09 million tons, a decrease of 124.75 million tons from the 2018 figure.

Limestone, Granite and Laterite were the most produced minerals in 2019 accounting for 55.03 million tons, with three states, Ogun, Kogi and Cross River accounting for 37.92 million tons with Ogun recording 18.65 million tons; Kogi, 12.77 million tons; and Cross River, 6.50 million tons, respectively.

The report further showed that 61 companies exported solid minerals in 2019 with China being the principal destination and accounting for 95 per cent of the solid minerals exported.

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