With a combined investment of N3.48 billion, the Nigeria Extractive Industries Transparency Initiative (NEITI) has designated Dangote Group, Lafarge Africa Plc, and First Patriots as the top three contributors to the mining industry’s social expenditure.
According to the NEITI’s latest Solid Minerals Audit report for December 2020, the sum reflects 94.6 percent of the mining sector’s overall social expenditure during the period.
According to the report, Dangote Group was the highest spender of the 29 entities that submitted their social spending during the period under review, spending N2.18 billion, or 56.36 percent of the total, followed by Lafarge Africa, which spent N1.26 billion, or 32.57 percent of the total, and First Patriots, who spent N219.9 million.
Other top spenders listed by Dr. Ogbonnaya Orji, Executive Secretary/CEO, NEITI, in its Solid Minerals Audit for the year under review include CCECC, Nigeria Limited, which paid out N49.2 million or 1.7 percent of total spending, and Triacta, which spent N35.5 million or 0.92 percent of total spending.
According to the report, the 29 businesses spent N376.5 million on obligatory social duties and N3.495 billion on non-mandated social expenditures during the review period, bringing the total mining industry social expenditure to N3.87 billion.
“These payments can be either mandatory (mandated by law or contractual duties) or non-mandatory (i.e., optional), and they can be made in cash or in kind.
“The social expenditure in 2020, based on data received from 29 companies, was N3.87 billion, representing an increase of 49 per cent compared to the 2019 figure.
“There is still much to be done by the regulatory agencies to ensure all companies in the industry abide by the social expenditure commitments they signed in the Community Development Agreements (CDAs) before commencing operations,” Orji said.
