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FG to digitise mining sector, track operators

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The Federal Government seeks to deploy Nigeria’s digital identity infrastructure to track mining operators, strengthen regulation, and curb illegal mining nationwide.

The Minister of Solid Minerals Development, Dele Alake, disclosed that when he received the Director-General of the National Identity Management Commission (NIMC), Abisoye Coker-Odusote, and her management team during a courtesy visit to the ministry in Abuja.

The meeting explored areas for collaboration between the ministry and NIMC to integrate digital identity into the solid minerals sector, improving governance, regulatory compliance, and monitoring of mining operations.

A statement issued on Sunday by the minister’s Special Assistant on Media, Lara Owoeye-Wise, said that both institutions are working to leverage technology and credible identity systems to support ongoing reforms in the sector.

Mr Alake described NIMC as a critical institution in Nigeria’s governance architecture, noting that effective regulation and national planning increasingly depend on reliable identity management and accurate data.

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“NIMC occupies a critical position in translating policy into reality. It is pivotal to the development of any nation because governance today is driven by data, technology, and credible identity systems,” the minister said.

Tracking mining operators

Mr Alake said integrating digital identity into the mining sector would enable government agencies to properly identify operators, monitor mining activities, and distinguish legitimate licence holders from illegal miners.

According to him, effective identity management is essential to strengthening enforcement and tackling insecurity associated with illegal mining.

“Without identification, we cannot trace; we cannot track, and insecurity will flourish. In the solid minerals sector, we need effective tracking of both legal and illegal operations,” he said.

He added, “A credible identity ecosystem will strengthen regulation, improve enforcement, and support our efforts to sanitise the sector.”

He said technology, digital identity, data gathering, and statistics have become indispensable tools for evidence-based policymaking, efficient licensing, investment promotion, and improved oversight of mining operations.

The minister also noted that access to credible and verifiable data would enable government institutions to understand activities across the mining value chain better and formulate policies that support the sector’s sustainable development.

NIMC proposes deeper collaboration

Speaking during the meeting, Ms Coker-Odusote said the recently enacted NIMC Act 2026 has strengthened the legal framework for Nigeria’s digital identity ecosystem and created new opportunities for collaboration with government institutions.

She said integrating NIMC’s digital identity infrastructure into the mining sector would improve interagency data integration, strengthen regulatory compliance, and enhance security.

According to her, the collaboration would also improve monitoring of mining operators, support law enforcement, and facilitate the implementation of Community Development Agreements between mining companies and host communities.

She added that a robust digital identity system would improve transparency, strengthen service delivery, and enable more efficient data sharing across government agencies.

“The commission’s infrastructure can support the creation of a more reliable identity ecosystem for the mining sector, helping regulators verify operators and improve monitoring across the country,” she said.

Reforms target illegal mining

The initiative forms part of the Federal Government’s broader reforms aimed at sanitising Nigeria’s solid minerals sector, which continues to face challenges, including illegal mining, insecurity, environmental degradation, and weak regulatory oversight.

READ ALSO: Nigeria will be big player in global supply of critical minerals – Dele Alake

Authorities have repeatedly identified illegal mining as one of the biggest obstacles to unlocking the sector’s economic potential, with criminal networks and unlicensed operators exploiting mineral resources while depriving the government of revenue.

PREMIUM TIMES recently reported that the Federal Government arrested two suspected illegal miners and shut down an illegal site in Osun State as part of an intensified nationwide enforcement campaign. During the operation, Mining Marshals confiscated equipment and sealed the site, while the suspects assisted investigators in identifying financiers of the illegal activities.

The minister had said that the Mining Marshals arrested more than 300 suspected illegal miners nationwide, with over 150 suspects, including foreign nationals, currently facing prosecution. Several illegal mining sites have also been closed as part of efforts to restore order to the sector.

The Tinubu administration has also introduced reforms to attract responsible investment into mining, improve transparency, strengthen licensing procedures, and ensure Nigeria derives greater economic benefits from its vast mineral resources.


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PZ Cussons Nigeria to pay shareholders N9.9 billion dividend after four-year pause

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PZ Cussons Nigeria is ending a three-year lull in dividend payment to distribute N9.9 billion to shareholders as its retained earnings swung back to positive for the first time since taking a hit in 2023.

In a corporate disclosure on Monday, the local subsidiary of Manchester-based consumer goods producer PZ Cussons detailed a proposal to pay a N2.50 dividend per share for the year ended 31 May 2026, fixing the qualification date for 9 October and payment for the 30th of the same month.

The compensation package also offers an alternative of receiving shares instead of dividends to those who prefer increasing their existing holdings in the company to taking immediate cash rewards.

Either way, both options require shareholders’ assent at the next annual general meeting in October for the board to further the plan.

“The reference share price for the purpose of determining the number of shares due to qualifying shareholders who elect for the share option will be a ten-day trading average of the company’s share price on the floor of” the NGX starting on 12 October, PZ Cussons said in the document.

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The company last paid a dividend in 2022, having been largely incapacitated by a sweeping foreign exchange loss that tipped its accounts into a N90.3 billion net loss in 2024.

READ ALSO: PZ Cussons’ annual profit quickens by 298% as asset disposal boosts earnings

That year, PZ Cussons, like many manufacturers in Nigeria that rely on raw material imports for most of their operations, reported an FX loss of N157.9 billion after major devaluations of the naira, beginning from 2023, wore away over 70 per cent of its value, compared to the dollar.

Retained earnings, from which companies pay dividends, have been in the red since 2024, only turning positive in the year under review, thanks to a 349 per cent surge in profit to N45.2 billion.

Proceeds from asset disposal totalling N38.7 billion drove the profit rise.

Turnover in the review period scaled up by 22.5 per cent to N260.5 billion on account of improved sales from its home and personal care products division.


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Zenith Bank, MTN Nigeria, AXA Mansard top stock pick this week

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After two successive weeks of loss, Nigerian stocks found resilience last week amid stronger buy pressure, helping market capitalisation appreciate by 0.8 per cent.

The oil & gas index propelled the fairly good performance, thanks to substantial gains by Seplat Energy, contrary to the penultimate week when it fared worst among the five sector indices.

In a way, it is a reassurance that investors’ interest in energy stocks is building up in view of the vibrant outlook on the sector that spikes in the price of crude holds for producers as the US-Israel war against Iran continues.

The upbeat market mood owes its debt to the profound revenue growth and, in some cases, a surge in profit that oil companies recorded at half-year locally and globally.

Looking forward, hopes are high this week that two key positives – Nigeria’s reclassification as a frontier market by FTSE Russell and its upgrade from stable to positive by Moody’s last week – could drive stocks further upwards.

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PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.

The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions, with the expectation that selected stocks will record reasonable price appreciation with the passage of time.

This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.

Zenith Bank

Zenith Bank tops this week’s pick on the basis of its sound fundamentals and for trading below its intrinsic value. The lender’s net profit ratio (NPR) is 21.8 per cent, while the price-to-earnings (PE) ratio is 4.8x. Its 14-day relative strength index (RSI) is 55.2.

MTN Nigeria

MTN Nigeria makes the selection due to its robust fundamentals. The telecom operator’s NPR is 21.9 per cent, while the PE ratio is 11.6x. Its 14-day RSI is 28.8.

AXA Mansard Insurance

AXA Mansard Insurance makes the cut by virtue of its strong fundamentals and for trading below its intrinsic value. The NPR of the insurer is 3.4 per cent, while the PE ratio is 29.8x. Its 14-day RSI is 49.6.

Unilever Nigeria

Unilever makes the list on account of its sound fundamentals. The company’s NPR is 14.1 per cent, while the PE ratio is 19.6x. Its 14-day RSI is 30.5.

Jaiz Bank

Jaiz Bank appears on the pick based on its attractive fundamentals. The NPR of the bank is 28.5, while the PE Ratio is 11.6. The 14-day RSI is 39.2.


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