C’River mines revenue surges to 874m in 8 months

… Targets N1 billion in 2025, N1.5 billion in 2026

From Aniekan Aniekan, Calabar

The Federal Mines Officer in Cross River State Engr. Ayelabola Bunmi has disclosed that revenue from mines has surged to over 874 million naira this year with a target of 1 billion naira by the end of the year.

Engr Bunmi who disclosed this in an interview said they have thus far exceeded their income for last year.

“Our revenue has increased tremendously in Cross River State. My target this year is one billion naira.

“Between January to August this year, we have so far generated N874, 111, 977 29. This is greater than our revenue from January to December 2024 which stood at N671, 711, 798.98”, he said.

In addition, he attributed the increasing revenue to proactiveness by the Ministry of Solid Minerals Development, more field activities and collaborations with the Cross River State government.

Looking ahead to 2026, he said the ministry is hoping to generate 1.5 billion naira and 13% of what is generated goes to the Cross River State government.

Moreover, he said said there has been relative peace in the state which has allowed businesses to thrive.

Besides this, the Federal Mines Officer said activities of illegal mining have reduced in the state and new companies are coming in with plans for quarrying activities.

He also emphasized that there is greater partnership with security agencies in the state to curtail the activities of illegal miners and this has recorded successes.