FG Approves Scale Of Professional Fees For Extractive Industry

The Federal Government in its effort to enshrine professionalism in the Mining and Minerals Sector has approved the Scale of Professional Fees for Extractive Industry in Nigeria.

The Minister of Mines and Steel Development, Arc. Olamilekan Adegbite, disclosed this, during the Launch of the Scale of Professional Fees and Presentation of the Proposed Bill for Review of the Council of Nigerian Mining Engineers and Geoscientists (COMEG) Act and Stakeholders’ Interactive Session held in Abuja.

Arc. Adegbite revealed that the Federal Executive Council FEC, approved the Scale of Fees on the 18th of May, 2022 after various professional inputs. He noted that the approval and launch of the Scale of Professional Fees in the Extractive Industry in Nigeria will guide professionals in carrying on their practice ethically as well as eliminate quackery for the development of the sector.

The Minister, while declaring the document for use by all professionals in the industry, encouraged them to ensure they get a copy for proper indept knowledge of what it contains.

In his welcome address, the Registrar, COMEG, Prof. Zacchaeus Opafunso disclosed that the Council was, for the first time, launching its Scale of Professional Fees which will assure professionalism in the industry as well as presenting the Amendment of the COMEG Act Number 40 of 1990. He assured that the amended Act would meet international best practices. Adding that “Nigeria must attain the position of mining destination among nations”.

In his remarks, President, Nigeria Mining and Geosciences Society, NMGS, Alabe Charleye Charles, commended all the stakeholders for achieving this laudable feat.

Earlier, Director, Legal Services in the Ministry, Mrs Nwamaka Odili, said the COMEG Act was painstakingly looked at to upgrade and remove obsolete areas to ensure the it meets present day realities.