Mr. Creech Jonesasked the Under-Secretary of State for the Colonies what amounts have been paid out of Nigerian revenues to the Nigerian Properties, Limited, in the years. 1938–39, 1939–40, 1940–41 and 1941–42, and what is estimated in the current year; what is the basis of calculation of these amounts; how were these interests acquired; and what services are rendered to Nigeria for them?
§ Mr. Harold MacmillanOn the revocation of the Charter of the Royal Niger Company in 1900, one of the conditions under which the rights and possessions of the company were transferred to the Crown was that the company or its assigns should receive for a period of 99 years one half of the revenue derived from the mining industry by the imposition
over that area of the present Northern Provinces of Nigeria bounded on the west by the River Niger and on the east by a line running direct from Yola to Zinder. The company also derives a half share of mineral rents accruing from exclusive prospecting licences, mining rights and mining leases. The amounts which have been paid to Nigerian Properties, Limited under the terms of the agreement in recent years are as follow:
- (i) of a royalty or percentage on the gross value of the minerals gotten and exported; or
- (ii) of a tax on profits, or
- (iii) of fees for the granting of licences to prospect or mine
£ 1938–1939 96,388 1939–1940 127,294 1940–1941 155,998 1941–1942 (revised estimate) 170,000 1942–1943 (estimated) 228,000 The upward trend of the payments is due to the increased revenue derived from the Royalty on tin, one half of which accrues to Nigerian revenues.