*Photo: NMCO Director-General, Engr. Simon Obadiah-Nkom*
The Senate has applauded the Nigeria Mining Cadastre Office (NMCO) for achieving an impressive revenue milestone of ₦12.2 billion in the 2024 fiscal year, marking a significant leap in the agency’s contribution to national economic growth.
This commendation was made by the Senate Committee on Solid Minerals, chaired by Senator Ekong Samson, during a session in Abuja.
The committee highlighted the remarkable achievements under the leadership of the Director-General, Engr. Simon Obadiah-Nkom, whose tenure has transformed NMCO into a beacon of success within Nigeria’s diversification drive.
The committee also recognized the leadership of the Honourable Minister of Solid Minerals Development, Dr. Dele Alake,for providing a clear direction and creating an enabling environment for the agency to thrive.
Senator Samson stated that “The Honourable Minister’s strategic focus and reforms in the solid minerals sector have laid the foundation for these remarkable achievements. His unwavering commitment to President Bola Tinubu’s
#RenewedHope Agenda has inspired transformational growth in this critical sector.”
Praising the agency’s efforts, Senator Samson continued, “The Mining Cadastre Office has achieved an extraordinary feat in revenue generation.
The ₦12.2 billion generated in 2024 speaks volumes about the dedication and reforms implemented by the DG and his team under the guidance of the Honourable Minister.
This success is pivotal to supporting the President’s developmental agenda and strengthening our economy through diversification.”
The committee pledged its unwavering support to NMCO, urging the agency to aim even higher in revenue generation. Senator Samson added, “Nigeria is blessed with abundant solid mineral resources, and NMCO, under the capable leadership of Engr. Obadiah-Nkom and the Honourable Minister, has proven its capability to harness these resources effectively. We expect this trajectory to continue, and we are proud to support their efforts.”
Engr. Obadiah-Nkom, while presenting the 2025 budget estimates, attributed the agency’s success to strategic reforms, enhanced operational practices, and ethical governance championed by the Ministry. He noted that NMCO’s total revenue from inception to October 2024 stood at ₦36.04 billion, with 100% remitted to the Treasury Single Account (TSA). Of this, ₦26.23 billion was generated during his tenure, reflecting 75% of the total revenue since the agency’s establishment.
The DG further highlighted key achievements:
₦12.2 billion generated in 2024, a record-breaking performance.
A 63% increase in revenue from 2023 to 2024 compared to the prior period.
A consistent upward trend in annual revenue: ₦2.38 billion in 2019, ₦2.56 billion in 2020, ₦4.30 billion in 2021, ₦3.79 billion in 2022, ₦6.07 billion in 2023, and ₦12.2 billion in 2024.
He expressed optimism about the agency’s potential, stating, “With increased investment in equipment, staff training, and improved operational conditions, NMCO can achieve even greater heights. We remain committed to ethical practices and excellence in service.”
The Senate Committee concluded by emphasizing the strategic importance of the solid minerals sector in Nigeria’s economic diversification agenda. They affirmed their commitment to ensuring NMCO receives the resources and support needed to sustain its exceptional performance, while commending the Honourable Minister, Dr. Dele Alake, for his inspiring leadership and dedication to transforming the sector into a cornerstone of Nigeria’s economic future.
