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The commitment was made by the office of Sheikh Hamdan bin Khalifa, the past ruler of Abu Dhabi, during the 2021 edition of the FIN Women Africa – UAE Trade and Investment Forum.The donations, according to Khalifa and Zulfiquar Ghadiyali, global peace ambassador, United Nations, were to further cement the close trade and bilateral …
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One other key benefit of developing the solid mineral sector include increase in Nigeria's foreign exchange earnings through export of crude / raw, processed and / or refined minerals. The transformation of the Sector is expected to result in a significant increase in Nigeria's foreign exchange earnings.
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Udo Udoma & Belo-Osagie is a well-regarded Nigerian law firm with broad-ranging expertise in finance and transaction matters in the infrastructure and energy industry. It acts for foreign and domestic lenders, developers and investors on acquisition, licensing and regulatory issues that arise in the power and oil and gas sectors.
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The mining industry in Nigeria has historically been dominated by the oil and gas sector, leaving other mineral resources largely untapped. Nevertheless, Nigeria is rich in mineral resources such as coal, limestone, tin, gold, and tantalite, among others. ... There is potential for exportation of minerals to generate foreign exchange and boost ...
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Despite the enormous potential of the mining sector to accelerate Nigeria's economic prosperity and sustainable development, several factors have continued to impede the sector's capacity to perform optimally ... while also providing the appropriate conditions to attract foreign investments in the sector towards Nigeria's sustainable ...
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Nigeria's mining sector is entering a new phase following the Covid-19 pandemic, with greater government support and a growing role as an important generator of export earnings amid post-pandemic economic recovery. Many of Nigeria's mineral resources remain unexploited, with considerable potential in gold, precious and semi-precious …
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Apart from the apparent export potential of the minerals for ramping up foreign exchange earnings and by extension, enhancing the Sector's contribution to GDP, Nigeria will directly benefit from the processing and utilisation of the mineral.
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Lithium mining requires significant use of advanced technology and sustained production to meet the continually growing demand. Such technology comes at huge costs, not to mention the cost of setting up plants for processing the mineral. A perennial issue in the Nigerian mining sector has been that of inadequate capital.
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The Nigerian government is targeting $5bn in mining investments over the next 10 years under a new industry roadmap, as part of a broader drive to diversify revenue sources away from non-oil sectors. In August Kayode Fayemi, the minister of mines and steel development, unveiled a new strategic plan for the sector that targets …
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Addressing global stakeholders in the mining industry, Alake, in the 15-minute speech pitched for more investment in Nigeria, listing unique advantages such as lower production cost due to surface mining and billions of dollars of untapped minerals.
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In November, the Nigerian government unveiled plans to revise its crucial mining law, the Nigeria Minerals and Mining Act (NMMA). The outdated law, which hasn't been updated since 2007, is accused of stifling growth in the nation's underdeveloped mining sector.
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The Nigeria Mining industry is not left out and continues to attract domestic and international investors despite the fact that it is still quite ... • Increased competition for Foreign Direct Investment (FDI) Government must put in place strategies to address these if it must reap the benefits of the mining sector.
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Nigeria's mining sector is diverse in mineral resources that make a significant contribution to the nation's gross domestic product. The country is endowed with an estimated US$700 billion in commercially viable minerals, giving it the capacity to diversify its revenue sources and boost foreign exchange earnings. Minerals include …
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Following this development, the Mineral Survey of the Southern Protectorates was founded one year after. For the next four decades after, the mining industry witnessed the influx of British and German foreign mining companies such as the amalgamated Tin Mining company of Nigeria, Exlands, Gold and Base Metals,etc.
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This discovery brought about a transformative era for Nigeria's economy and crude oil export become a major source of foreign exchange earnings for the country. ... (Roadmap for the Growth and Development of the Nigerian Mining Industry – the "Roadmap") in 2016, with the objective of addressing the key challenges identified in the …
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Although the productivity level of the sector is insufficient to meet local demands particularly for industrial minerals, Nigeria has been unable to attract significant investment in exploration of her mineral resources. 6 This constraint can be traced to the lack of attractive environment for private-sector mining, paucity of accurate and up ...
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The Nigerian government, realizing the country's over reliance on oil revenue, has recognized the need to diversify the economy by focusing on other sectors such as mining. Adewole Orobiyi of Ernst & Young looks at the tax and regulatory incentives available for companies in the Nigeria mining and metals industry.
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