The Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) Thursday inaugurated a new data collection system for the solid minerals sector, aiming to plug revenue leaks and capture billions of naira currently lost to poor monitoring.

The initiative, unveiled at a stakeholders’ sensitisation workshop in Damaturu, Yobe state, introduces a unified Solid Mineral Data Rendition Template designed to provide accurate, real-time data on mining activities across the country.

The chaiman of the RMAFC,M.B.Shehu , represented by Alhaji Modu Aji Juluri, stated that despite Nigeria’s vast mineral wealth, the sector’s contribution to the national treasury remains negligible due to  lack of transparent and reliable data.

“The implementation of the new data rendition templates is timely, given the current economic difficulties,” said Mr. Shehu.

He added  that the move is critical for diversifying the economy away from its “perpetual over-dependence on hydrocarbon revenue,” which is plagued by volatility, theft and vandalism.

He said the new system aligns with President Bola Ahmed Tinubu’s agenda to harness non-oil sectors like solid minerals, agriculture, and manufacturing to broaden the nation’s revenue base.

“The template will serve as a single, authoritative source of data, capturing key details that have been previously inconsistent or unreported. 

“This includes the exact quantity of minerals produced. The companies involved and their locations. All license fees and permits paid,” he added.