Recently, the President at the presentation of 2016 budget of N6.08tr at the joint session of the National Assembly, re-emphasised diversification of the economy and projected that funding and implementation of the budget will come from sectors like the solid minerals.
STRATEGIES, PROSPECTS AND CONSTRAINTS OF SOLID MINERALS DEVELOPMENT IN NIGERIA Okechukwu I. N; Musa Muhammed; M. A. Ashiru and G. I. Dada Abstract Nigeria has an enormous amount of solid minerals which can be harnessed for our economic well being. These minerals have remained untapped over the years.
The Minister of Solid Minerals Development, Dr. Kayode Fayemi, has said that the main focus of the ministry is to re-position mining activities in the country and ensure that the sector contributes a double digit growth to the economy within a decade.
DEVELOPMENT STRATEGY FOR NIGERIA MOSES AKPOBASAH AT A 2-DAY NIGERIA MEETING ORGANIZED BY THE OVERSEAS DEVELOPMENT INSTITUTE, LONDON, 16-17 JUNE 2004 Contact: [email protected] Moses Akpobasah at is a Consultant, Nigeria Economic Summit Group, DFID Consultant member,
creation of wealth and increase in foreign exchange for Nigeria’s economy. Introduction Nigeria is an oil producing country also well endowed with solid minerals. Proven solid minerals reserves have been found in over 500 locations across the country.1 All of the 36 states of Nigeria including the Federal Capital have more than one type of ...
Nigeria is rich in solid minerals. This have attracted many foreign nationals. These solid minerals drive the economic sector of Nigeria. In this article, I will share with you the list of solid minerals in Nigeria and their states of location. I will also discuss the major solid minerals.
most of the solid mineral resources are in commercial quantities and they are evenly spread across the geo political zones and states in the country, and this can be further be shown thus: Table 1: Estimates of Available Solid Minerals in Nigeria at 2009 Solid mineral Quantity (metric tones State Talc 40million economy.
Nov 23, 2018· The News Agency of Nigeria (NAN) reports that the NCCIMA promised to explore the potential in solid minerals sector for successful integration and diversification of the economy. The Director-General, NCCIMA, Mr Adamu Sale, made this known in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja.
The vastness of Nigeria's minerals resources cannot and should not be over emphasised. We began to explore and exploit her natural mineral resources in 1902 and in its prime, the solid minerals sector was one of the largest producers of tin and coal, as well as a …
NEITI: Nigeria Earned Zero Revenue From Solid Minerals In Q3 2017. Nigeria earned no revenue into her Federation Account from its solid minerals sector in the first nine months of 2017, a quarterly review of revenues that went into the account by the Nigeria …
expense of other sectors such as solid minerals and agriculture that hitherto, contributed significantly to the economy of Nigeria. Employing both qualitative and quantitative analysis, this paper shows that the solid mineral sector in Nigeria has the potential to contribute immensely to the economy of Nigeria.
Historical Development of Solid Minerals in Nigeria. The historical development of solid mineral industry in Nigeria can be categorised in this work under two headings namely: the period before independence and the period after independence. The Period Before Independence in 1960.
One of the objectives of the new National Policy on Solid Minerals is to ensure the orderly development of the mineral resources of the country. There are tremendous opportunities for investments in the solid mineral sector of the Nigerian economy.
Nov 09, 2018· At the end we shall see that Solid Minerals sector optimal performance is an imperative source for Nigeria's economic development. INTRODUCTION. The vastness of Nigeria's minerals resources cannot and should not be over emphasised.
Source: Ministry of Solid Minerals Development (former Ministry of Mines and Steel Development) INVESTMENT OPPORTUNITIES. Mineral Prospecting and Mining. Although Nigeria is blessed with an abundant amount of diverse mineral resources, not all the minerals are …
Appropriate management of solid minerals should translate or some say return Nigeria from just a minerals country to a mining country. Any industry that can generate high economic yield, income, technology and massive employment at the same time -even at the risk of price fluctuation and exhaustibility - is source of economic development.
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.
Nov 20, 2018· The Constitution of the Federal Republic of Nigeria, 1999 (as amended) vests total ownership and control of all minerals, mineral oils and natural gas in, under or upon any land, territorial waters and the Exclusive Economic Zone of Nigeria in the Federal Government ("FG").
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. Specifically, it reveals that the ...
Nov 02, 2018· Nigeria’s economy has, for several decades, remained mono-cultural with crude oil as the main source of revenue. What this means is that other sectors such as agriculture and solid minerals ...
The president disclosed that his administration is moving the nation towards full development of the solid mineral sector because of the declining fortune of the oil sector, which makes it imperative for Nigeria to find alternative sources of revenue generation.
Solid minerals development can sustain Nigeria’s economy- Sen Abubakar Dec 6, 2018 Senator representing Adamawa South Senatorial District, Senator Ahmadu Abubakar has admonished the Federal Government to fully develop the large deposits of solid minerals across the country if it really wants to diversify the oil backed economy.
Niger Chamber of Commerce, Industry, Mines and Agriculture, (NCCIMA) says it will organise the Second Northern Nigeria Solid Minerals Fair and Workshop from Dec. 6 to Dec. 8, 2018. NCCIMA promised to explore the potential in solid minerals sector for successful integration and diversification of the economy.
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.