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The Nigerian Mining Industry - The Untapped Goldmine
The Nigerian Mining Industry - The Untapped Goldmine. With crude oil accounting for approximately 70% of government revenue and 83% of export earnings, Nigeria is forced to make difficult adjustments almost every time there is a depression in oil prices. This situation is compounded by corruption, and the poor management skills of economic managers.
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The Ministry of Mines and Steel Development ("MMSD" or "the Ministry") oversees the mining sector in Nigeria, and administers the provisions of the Nigerian Minerals and Mining Act. The Ministry is supported in performing its functions by the following statutory departments: 1. Mines Inspectorate Department 2. Mines Environment and Compliance 3.
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Nigeria Industry Sectors | Economy Watch
Mar 29, 2010· Major Nigeria Industry Sectors The mining sector, including the oil and natural gas segment, is the largest Nigeria industry sector. According to the 2005 figures, it accounts for more than 90% of the annual national production and generates more than 80% of the government revenues.
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Find Mining expertise in Nigeria - Commonwealth of Nations
The main solid minerals in Nigeria's mining industry include coal, tin, niobium and gold. In 2010, Nigeria produced an estimated 21,200 metric tons of aluminium, 600 kg of gold, 50,000 metric tons of iron ore, 450,000 metric tons of bituminous coal, 190 metric tons of niobium (columbium) and 230 metric tons of tin (US Geological Survey).
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Currently mining contributes just 1% to Nigeria's GDP. Nigeria has significant coal and iron ore reserves as well several gold, uranium, tantalum and REE showings throughout the country. Uranium is found in 6 of the 36 states in Nigeria.
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