To unravel the issues around tax evasion and multiple tax identification numbers (TIN), the Nigeria Extractive Industries Transparency Initiative (NEITI) has urged the Federal Inland Revenue Service (FIRS) to carry out a comprehensive tax audit. NEITI, in its 2019 Audit Report, urged FIRS to work with the Ministry of Mines and Steel Development (MMSD) to reconcile the multiple TIN. Meanwhile, Dangote Cement Plc and Dangote Industries Limited are the highest revenue contributors to the country’s solid minerals sector in 2019. “Nigeria’s GDP in 2019 was ₦144.210trillion with contributions from the solid minerals sector totaling ₦368.99billion, representing 0.26 per cent of the total amount”. Apart from the Presidential initiatives on gold, salt and fertilizers, the NEITI report also identified ongoing projects in the sector.

Source: The Guardian July 15, 2021 04:15 UTC