The reduction in global crude oil prices is not expected to reverse at least in the short run, thus the need to diversify the economy towards improving other sources of revenue. One key sector which offers great potential in achieving this is the solid minerals sector. The solid minerals sector had been targeted by
AN ECONOMIC ANALYSIS OF NATURAL RESOURCES SUSTAINABILITY FOR THE MINING SECTOR COMPONENT NIGERIA Prepared by: J M Eyre FRICS MIMMM MIQ CEnv AFRIN, A V Agba PhD Wardell Armstrong International Limited May 2007 Ref: 51-0434 This report has been prepared by Wardell Armstrong International with all reasonable skill, care and diligence,
That said, based on current data, Nigeria’s solid minerals sector makes up about 0.34% of gross domestic product (GDP). That means that based on current official exchange rates, the mining sector contributes N400billion in value to the economy. While that
How we are transforming Nigeria's solid mineral sector. How we are transforming Nigeria’s solid mineral sector Fayemi to transform the solid minerals sector and make it contribute more to the economy. 2014 when prices of oil started. Developing the solid minerals sector Quick wins for the
Jul 11, 2017· The Government of Nigeria is putting in measures that will create an enabling environment for full involvement of the private sector in the development of the sector. Honourable Bawa-Bwari commended the UNDP and all stakeholders for their support towards the sustainable development of the solid minerals sector.
The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, (NEITI), Mr. Waziri Adio, says the solid mineral sector, though not being tapped to its fullest, has the potential to grow Nigeria’s economy, create stone and address a number of social issues.
the Nigerian Minerals and Mining Act (the Act) in 2007, amongst other policy efforts. However, these efforts have only led to a minuscule growth in the sector; with the sector’s contributions to the Nation’s Gross Domestic Product (GDP) remaining at less than 1% as at 2015 1. By the first half of 2016, Nigeria entered into a period of
development in the mining sector in Nigeria. Akongwale et al (2013) in their analysis on the role of solid minerals on economic diversification in Nigeria, employing both qualitative and quantitative (descriptive) analysis, the study shows that the solid mineral sector in Nigeria has the potential to contribute immensely to the economy of Nigeria.
Guy do you know the amount of solid minerals leaving Nigeria every minute that the government knows nothing about. If professional tell you the trillions leaving 9ja you would marvel especially minerals mined from the north. Some rare Earth metals rarely found worldwide are strangely found in some parts in Nigeria
Nigeria > Investing in Nigeria > Investment Opportunities in Solid Minerals. OPPORTUNITIES FOR INVESTMENT IN THE SOLID MINERALS SECTOR Nigeria is endowed with numerous mineral resources. Recent policy reforms have brought the solid minerals sector to the fore. The emphasis is on encouraging massive foreign investors €™ participation in this
Mining regulation is handled by the Ministry of Solid Minerals Development, which oversees the management of all mineral resources. Mining law is codified in the Federal Minerals and Mining Act of 1999. Historically, Nigeria's mining industry was monopolized by state-owned public corporations.
First, solid mineral resources are economically, socially and environmentally crucial for Nigeria. There are key knowledge gaps in the sector. In addition the utilization of solid mineral resources is well aligned with the Bank's country partnership strategy, which is placing a strong focus on nonoil growth sectors of the economy.
Apr 01, 2020· Ike Amos Lagos — The Petroleum Products Pricing Regulatory Agency (PPPRA), Tuesday night, announced a further reduction in the price of Premium Motor Spirit (PMS) also known as petrol, to N123.50 per litre, from N125 per litre. In a statement in Abuja, Executive Secretary of the PPPRA, Mr. Abdulkadir Saidu, stated that the new price 
The Miners Association of Nigeria (MAN) is a National Industry Association whose diverse membership (Over 4000) includes entities and individuals that are directly involved in mineral resources exploration and exploitation in Nigeria. MAN membership comprises of exploration, quarry, and mining companies. It also encompasses services and Consultancy firms that relate to mining sector
Nigeria is richly endowed with a variety of solid minerals of various categories ranging from precious metals to various stones and also industrial minerals. Much of these resources are yet to be exploited. Statistically, the level of exploitation of these minerals is very low in relation to the extent of deposits found in the country.
Mar 24, 2016· The earnings from solid minerals, were used to develop roads, education, hospitals and in fact develop the petroleum industry. The decline of the solid minerals industry started with the discovery of oil to an extent that Nigeria became a mono product economy and vulnerable to international oil politics.