Roadmap for the growth and development of the Nigerian mining industry:
Date
2016
Journal Title
Journal ISSN
Volume Title
Publisher
Ministry of mines and steel development
Abstract
EXECUTIVE SUMMARY 13; THE INDUSTRY TODAY 17; CONSTRAINTS AND CHALLENGES TO FULL POTENTIAL 28; PROPOSED STRATEGIC FRAMEWORK FOR FULL MINING POTENTIAL 37; IMPLEMENTATION AND ACTION PLAN 47; COMMUNICATION STRATEGY 75; NEXT STEPS 77; HISTORICAL CONTEXT OF THE NIGERIAN MINING INDUSTRY 79; NIGERIAS MINERAL ENDOWMENT 81; SAMPLE CASE STUDIES OF MINING SECTOR TRANSFORMATIONS 84; FINANCING MINING EXPLORATION AND PRODUCTION FINANCING EXPLORATION AND PRODUCTION 86; CASE STUDIES AFRICAN COUNTRIES ATTRACTING MINING FINANCING 97;
Description
Nigeria's minerals and mining sector is still largely underdeveloped despite its glorious past and abundance of mineral resources for development, including high value metallic minerals', industrial minerals", and energy minerals" In 2015, the sector contributed approximately 0.33% to the gross domestic product of the country. This contribution is a reversal from the historically higher percentages (about 4-5% in the 1960s-70s). FHowever, following a decade of retforms starting in 1999, this contribution represents a cautiously optimistic restart of the development of the sector. The decade of reform saw key changes including, the passage of a new Nigerian Minerals and Mining Act (2007), a Nigerian Mineral and Metals Policy (2008), the creation of a modern Mining Cadastre system, the retfinement of the tax code, and the expansion in airborne mapping of the country to sharpen knowledge of the mineral endowments. As important as these progress steps have been, Nigeria can and should do more. The sector faces several challenges with geosciences data and information, Industry participants, Stakeholders, Institutions, Governance and other enablers of the sector.