The Ministry of solid minerals development has implemented a significant increase in dues and rates for operators in the mining sector. 

The announcement was made during a press conference held at the ministry headquarters in Abuja on Thursday.

Minister Dele Alake revealed that the government has adjusted 286 rate regimes, elevating charges by between 50% to 100%. 

He noted that immediate compliance with the new rates was mandatory, with non-compliance risking license revocation.

The minister justified the rate revision citing insufficient funds returned to the government by operators. 

He emphasised that the fees hike aimed to boost government revenue and streamline business operations in the sector.

Stakeholders were actively engaged in determining the new rates, which received unanimous approval, he noted. 

The minister, Alake, stressed the fairness of the increase, asserting that those profiting from the mining sector should contribute appropriately to national revenue rather than burdening less affluent citizens.

Under the authority granted by the Mining and Minerals Act 2007, Alake formed a committee comprising department directors and agency heads to develop the revised rates. 

"This marks a crucial step in our strategy to implement a comprehensive agenda aimed at revitalising the sector and enhancing international competitiveness," he declared.