States to receive 13% derivation revenue from solid mineral mining ~ Kayode Fayemi

States with active mining of solid minerals in their domains are to receive 13 per cent derivation revenue, just as their counterparts in oil and gas producing areas, the federal government has said.

 The Minister of Mines and Steel Development, Kayode Fayemi, who said this in Abeokuta, Ogun State, said serious-minded operators in the mining sector would soon be granted access by the government to the intervention finance for mining from the National Resource Fund.

 The minister, who was addressing the opening of the National Council on Finance and Economic Development (NACOFED) on Tuesday, did not say when the payment would begin.