Legal Regime for Exploring Solid Minerals for Economic Growth in Nigeria

Adeniyi . I. Olatunbosun, Michael .O. Adeleke, Olabode .O. Ayorinde

Abstract


Solid minerals as natural resource help to grow the economy, create jobs, and generate enduring wealth for the people of Nigeria. Effective mining will transform the Nigerian economy and create a suitable and enabling environment for productive activities to flourish. It is imperative to adopt international best practices as the national benchmark to evaluate the standards of the mining operations and provide accessible financing scheme for local investors and conducive atmosphere to attract foreign investors’ participation. However, from the mining sector to thrive and contribute significantly to the gross domestic product, the sector requires the enactment of potent legal instruments and the establishment of virile institutional agencies with a view to regulating the exploration of mining activities and controlling the persistent high level of insecurity, revamping on the worsening power supply for optimum productivity in achieving sustainable development.

Keywords


Solid minerals; Economy; Legal; Environment; Financing

Full Text:

PDF

References


Akper, P. (2008). A critical analysis of the legal and institutional framework for the formalsation and regulation of artisanal mining in Nigeria (Unpublished doctoral dissertation). Obafemi Awolowo University, Ile-Ife,NIGERIA.

Ihomvere, J. O., & Shaw T. (1988). Towards Political Economy of Nigeria (p.42). Aldershot, London: Avebury, Gower Publishing Co. Ltd..

Nigerian-An exciting New Mining Destination. (2006). Mining Journal Special Publication, p.5. London, February.

Obiora, L. L. (2007). Solid minerals development in Nigeria. Mining Bulletin. 2(1), 1-15. Nigeria is richly endowed with huge solid mineral deposits especially lead and zinc that are important raw materials for the manufacturing of goods such as batteries, electric cables, important components of alloys and protective coatings for other metals.

Odozi, V. A. (1997). Reviving Nigeria’s non- oii sector for economic development for CBN executive staff. Economic and Financial Review, 35(4), 5-8.

Popoola, A. O., (2003). Legal Framework for Appropriate Funding of the Oil and Gas Industry. In M. Sanda & J. Owoeye (Eds), Alternative sources of funding for the oil and gas industry (pp.194-203). Nigeria: Evans Brothers Nigeria Ltd.




DOI: http://dx.doi.org/10.3968%2Fj.css.1923669720130905.2544

Refbacks

  • There are currently no refbacks.


Reminder

If you have already registered in Journal A and plan to submit article(s) to Journal B, please click the CATEGORIES, or JOURNALS A-Z on the right side of the "HOME".


We only use three mailboxes as follows to deal with issues about paper acceptance, payment and submission of electronic versions of our journals to databases: caooc@hotmail.com; css@cscanada.net; css@cscanada.org

Copyright © Canadian Academy of Oriental and Occidental Culture

Address: 730, 77e AV, Laval, Quebec, H7V 4A8, Canada

Telephone: 1-514-558 6138

Http://www.cscanada.net Http://www.cscanada.org

E-mail:css@cscanada.net, css@cscanada.org