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HomeBusinessCadastre woos more investors to boost revenue in 2022

Cadastre woos more investors to boost revenue in 2022

The Nigeria Mining Cadastra Office (NMCO) says it has put in place modalities to attract more investors in the mineral sector to boost revenue in 2022.

Mr Obadiah Nkom, the Director-General of NMCO made this known in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja.

According to Nkom, NMCO’s efforts will attract more investors to boost its Internally Generated Revenue (IGR) for the Federal Government in 2022.

NAN reports that NMCO generated N4.3 billion in December 2021, an increase from the N2.3 billion it generated in the same period in 2020.

“The figure is the highest ever generated to the federation account by the office over the years,” according to the office.

NMCO is an autonomous agency of government saddled with the responsibility of managing and administering mineral titles.

“I will not mention our target for 2022 but we will do our best to achieve our mandate by generating funds into the government coffers.

“Revenue is just an aspect, the main thing is to achieve our mandate through my wonderful staff that are working tirelessly day-in-day out.

“Since I came on board, I don’t want to say I am a record breaker, I have always aspired to do better and adhere strictly to our mandates and principles.

“NMCO abides strictly by transparency, security of tenure; first come, first serve; use it or lose it and non-subjectivity, all toward attracting the needed investments in the sector,” he said.

Nkom said that the office recently advertised 4,000 mineral title holders who defaulted, adding that the office won all cases filed against it by defaulters.

He said that NMCO had established offices in the six geo-political zones, which were working and collaborating more closely with other departments and agencies in the Ministry of Mines and Steel Development.

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