However, the fact that mining companies (unlike companies engaged in upstream and midstream gas operations, the agro-allied industry or those engaged in the trade or business of manufacturing) suffer restriction on the quantum of CA claimable in any year of assessment (subject to sixty-six, two-third percent (66 2/3%) of assessable …
country, in other for Nigeria to benefit from the entire mining value chain, end-to-end5. The FG's position is consistent with the provisions of the "Nigeria Mineral Value Chain Regulations, 2021 ("the Regulation")" introduced by the FG in July 2021. The Regulation is primarily aimed at boosting the country's
Globally, the mining industry is experiencing a boom as there is an increase in the need of critical minerals and new mining technologies, the Nigerian Mining is not left out in this change, this document highlights the progress made and the steps to …
In 2019 the government made the decision to revise the Nigeria Minerals and Mining Act (NMMA), the law that has governed the sector since it came into force in 2007. …
MISSION: To exploit the nation's mineral endowments in an environmentally sustainable manner and establish a vibrant minerals and metals industry for wealth creation, poverty reduction, promotion of economic growth and significant contribution to the GDP of Nigeria.
The mining industry in Nigeria is a key sector that contributes significantly to the country's economy. One of the valuable minerals in Nigeria is tin ore, which has substantial export potential. This guide provides an overview …
Nigeria is endowed with vast reserves of natural resources such as energy minerals like coal and lithium, metallic minerals like gold and lead-zinc and industrial minerals like …
Kasirim Nwuke considers key provisions and challenges of Nigeria's Petroleum Industry Act 2021. ... rents on petroleum mining leases are also assigned to Frontier exploration. ... and regulatory ...
In 2019 the government made the decision to revise the Nigeria Minerals and Mining Act (NMMA), the law that has governed the sector since it came into force in 2007. However, as a result of the disruption caused by the Covid-19 pandemic, as well as other international and domestic challenges, the passage of the revised
A strategic and diversified approach to financing will not only facilitate the development of mining projects but also contribute to the overall growth and …
1 Based on the Nigerian Gross Domestic Product Report for Q4 2023, published by the National Bureau of Statistics, the total contribution of the Mining sector (i.e., coal mining, metal ores and quarrying and other minerals) to the 2023 GDP is about 0.77%.
Nigeria has 10 pieces of legislation, excluding regulations and directives, regulating various aspects of the oil industry. The Petroleum Industry Bill (PIB) pending before the National Assembly aims to harmonize all the legislations and significantly restructures the industry, particularly the functions of the various regulatory agencies, …
It is presently the primary legislation regulating mining activities in Nigeria. According to the National Bureau of Statistics' executive summary on Mineral Production Statistics (2019 – 2020), the mining and quarrying sector is crucial to the growth and development of the economy through the exportation of non-oil mineral resources and ...
Lithium mining is a growing industry in Nigeria, and the government has recently issued permits to allow companies to begin mining operations. ... The Nigerian government has also in place a number of regulations to ensure that the mining operations are conducted in a safe and responsible manner. These regulations include …
Printed in Nigeria. Nigerian Mining Sector Brief | 3. Section. Page . 1erview of the Nigerian Mining Sector Ov 05 2 Mineral Endowment 08. ... 2.5arites B 09 2.6ead-Zinc L 11 2.7 Gold 11. 3al and Regulatory Framework Leg 12. 3.1 Mines Inspectorate Department 13 3.2 Mines Environmental and Compliance Department 13 3.3 Mining Cadastre Office 13
MINING INDUSTRY On the Road to Shared Mining Prosperity . Cover Design and Typographic Layout: Aluk.o Muyiwa (2016) ... REGULATORY, OVERSIGHT, AND TECHNICAL SUMMARY CHAPTER 2 - CONSTRAINTS AND CHALLENGES TO FULL POTENTIAL ... Historical contribution of minerals and mining sector to Nigeria's GDP …
There are several problems in Nigeria's mining industry such as insufficient infrastructure, significant financing costs required for mining, unwholesome laws and illegal mining (Micah and Ibitomi, 2020). ... In 1949, the Minerals Act and Mining Regulations were approved and adopted. In 1950, the Nigerian Coal Corporation was established. …
NIGERIAN MINERALS AND MINING ACT . An Act to repeal the Minerals and Mining Act, No. 34 of 1999 and re-enact the Nigerian Minerals and Mining Act 2007 for the purposes of regulating all aspects of the exploration and exploitation of solid minerals in Nigeria; and for related purposes. [2007 No. 50.] [29. th March, 2007] [Commencement.]
Welcome to the Integrated Automation and Interactive Solid Minerals Portal (IAISMP), the GO-TO portal for real time information on Mining Sector in Nigeria. Office:No. 2, Luanda Crescent, off Adetokunbo Ademola Crescent, Wuse II, Abuja, F.C.T., Nigeria. Call Us: +234 9 …
How China's Appetite for Lithium is Undermining Nigeria's Mining Sector. Nigeria's rich deposits of lithium and other critical minerals have become the… Shittu Fowora; September 2, 2024 ... Nigerian Gemstones Miners Condemn Excessive Mining Regulations; Featured Stories. 1 Niger State Grants 369 Gold Mining Titles After Lifting Ban ...
Industry observers indicate that the country is losing as much as 80% of its oil production to theft, though other analysts claim a figure around 60% is more accurate. According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), in the first quarter of 2022, the country lost an estimated $1 billion in revenue to crude theft.
PDF | This study offers a thorough legal examination of strategies and regulatory measures aimed at addressing illicit mining operations in Nigeria. It... | Find, read and cite all the research ...
Petroleum Industry Act, 2021 2021 No. 6 A 119 Federal Republic of Nigeria Official Gazette No. 142 Lagos — 27th August, 2021 Vol. 108 Government Notice No. 134 The following is published as supplement to this Gazette : Act No. Short Title Page 6 Petroleum Industry Act, 2021 .. .. .. .. .. .. .. A121-370
The Act vests the control, regulation and ownership of all mineral resources in the Federal Government of Nigeria (FGN). The Minerals and Mining Regulations and the National Minerals and Metals Policy also govern the sector. The erstwhile Ministry of Mines & Steel Development (MMSD) oversaw the mining sector in Nigeria, pre-2024.
The Nigeria Mining Cadastre Office (NMCO) was established in 2007 with the responsibility for the Administration and Management of Mineral Titles in Nigeria in accordance with Section 5 (1) of the Nigerian Minerals and Mining Act, 2007 (the Act). Address: 37 Lobito Crescent; Off Ademola Adetokunbo, Wuse II, Abuja Nigeria +234 (0) …
the control, regulation and ownership of all mineral resources in the Federal Government of Nigeria (FGN). The Minerals and Mining Regulations and the National Minerals and Metals Policy also govern the sector. The erstwhile Ministry of Mines & Steel Development (MMSD) oversaw the mining sector in Nigeria, pre-2024.
Nigeria is a lower middle-income country with a surface area of 923.8 thousand square kilometers and population of between 140 and 188.686 million (National Mineral and Metal Policy 2008; World Bank 2017; IMF 2017).It has a population growth of 2.6% and a GDP of 405.08 billion US dollars with an annual GDP growth rate of −1.5% …
Mining regulation is handled by the Ministry of Solid Minerals Development, who are tasked with the responsibility of overseeing the management of all mineral resources in Nigeria. 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.
capable of putting the Nigeria mining sector on the digitization journey, make it more prominent on the global ... Commerce and Industry (LCCI), the Mining Association of Nigeria and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) ... Regulatory & People Services T: +234 803 402 1015 E: …
This work seeks to highlight the regulatory framework of the Nigeria Mining industry and the challenges of mining operations in Nigeria with a view to proffering solutions.
The principal agencies of the government that are responsible for supervising and regulating the oil and gas industry will be briefly discussed below. The Department of Petroleum Resources (DPR) The DPR is responsible for the regulation of the upstream and downstream sectors of the oil and gas industry in Nigeria.
Regulatory Framework for Marginal Fields Under the PIA. The Petroleum industry Act ("PIA") which came into effect on 16 August 2021 has introduced a new institutional, regulatory and fiscal framework for Nigeria's petroleum industry.One of the key changes is a new acreage management system, which effectively reduces the size …
DECEMBER 2015. THE LEGAL AND REGULATORY FRAMEWORKK NIGERIA: A CATALYST FOR INVESTMENTFORMININGIN. here is no gain saying that Nigeria is …
II. The Institutional Framework. The Mineral and Mining Act vests "the entire property in and control of all the minerals in, ...or upon the any land in Nigeria, ... in the …
The Old Act will continue to regulate Oil Mining Leases (OML) and Oil Prospecting Licences (OPL), which are not converted to Petroleum Mining Leases (PML) and Petroleum Prospecting Licences (PPL) under the PIA regime, until all their terms expire (refer to our publication "The Petroleum Industry Act, What is next for Upstream …
13 Section 3(2) of the Mining Act. 14 Regulation 87 of the Mining Regulations. 15 Section 47 of the Mining Act. 16 Section 56(4) of the Mining Act; Regulation 91(3) of the Mining Regulations. 17 Regulation 92(1)(b) of the Mining Regulations. 18 Section 60(1) of the Mining Act. 19 Section 62 of the Mining Act. 20 Section 48 of the Mining Act.
Nigeria is blessed with over forty-four (44) identified solid mineral resources in commercial quantities. Yet, the contribution of the mining Sector to the country's gross domestic product (GDP) has remained less than 1% in each of the past five (5) successive years – although, it has consistently grown over the same period to 0.85% in 2022 (from …