The Acting Chairman of the Federal Internal Revenue Service (FIRS), Zaccheaus Adedeji has revealed that a calculated investment in the solid minerals sector can significantly boost the Nigerian economy and contribute to GDP growth.
Adedeji said the Federal Government could grow the sector to shore up earnings into the Federation Account.
He made this statement during a visit to the Minister of Solid Minerals Development, Oladele Alake, in Abuja.
Speaking on the sector’s relevance to tax revenue generation, the FIRS chairman said that its highest taxable limit at 18% of the Gross Domestic Product (GDP), is a stark contrast to the declining oil and gas sector, which currently contributes 78%.
On his part, the Minister of Solid Minerals, Dele Alake, said that the President’s determination to raise the country to new heights and enhance the well-being of the people is the cornerstone of the administration’s vision and agenda.
At another forum, Alake reiterated the government’s commitment to data gathering on mineral deposits in the land.
He spoke while hosting the President/Chief Executive Officer of Africa Finance Corporation (AFC), Samaila Zubairu, in Abuja.
According to the Minister, the solid minerals sector’s transformation into a revenue-generating cornerstone is on Tinubu’s Administration’s agenda list.
Alaba Balogun, the information spokesman for the ministry, conveyed Alake’s appreciation for AFC’s backing of the Tinubu administration’s efforts to revamp the solid minerals sector.
