ely 4 to 5 percent of the GDP in the 1960s and 1970s. However, with the discovery of crude oil, the industry suffered from neglect, resulting in a mere 0.17%. ontribution to the GDP in recent years (2018 - 2022). In order to achieve the ambitious 3% target set in the mining roadmap for 2025, significant effort.

A look at some of the key legal and practical considerations surrounding mining rights and title in Nigeria, including the extent of state control, renewal and …

According to KPMG, the Federal Executive Council on April 5, 2023, approved a draft amendment of the Nigerian Minerals & Mining Act ("the Act"), 2007 – …

The Nigerian Minerals and Mining Act is the principal legislation that regulates the sector. The Act vests the control, regulation and ownership of all mineral resources in the …

Introduction. The Mines and Minerals (Development and Regulation) Amendment Act 2021 was introduced in the Lok Sabha on 15th March 2021 and subsequently passed by the Rajya Sabha on 22nd March 2021. This Amendment modifies significant sections of The Mines and Minerals (Development and Regulation) Act, …

1. Act 8 Mining (Amendment) Act 2021. (2) The levy referred to in subsection (1) shall be. paid by the exporter to the Uganda Revenue Authority at the time the processed gold is exported out of Uganda. 116B. Levy on unprocessed minerals (1) There shall be charged a levy on unprocessed minerals, at the rate often per cent of the value of the ...

Mon, 1 Aug 2022 3:40:28 WAT. The Federal Executive Council on Wednesday approved Nigeria's Mineral Value Chain Regulations, 2021. The main objective is to protect the mining sector and boost the country's revenue drive through the development of raw materials into refined products before export. Highlights of the document include …

In November, the Nigerian government unveiled plans to revise its crucial mining law, the Nigeria Minerals and Mining Act (NMMA). The outdated law, which …

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 Nigerian Minerals and Mining Act was enacted in 2007 with a first strategy roadmap outlining the long-term goals for the sector being formulated in 2012 (Federal Ministry of Mines and Steel Development, 2019). ... Strategic evaluation of the 2021 Nigeria Climate Change Act: Surmounting challenges, paving the way for …

The mining sector is governed by the Nigerian Minerals and Mining Act 2007. The sector is primarily regulated by the Ministry of Mines and Steel Development and the Mining Cadastre Office. ... In 2021, Nigeria became a participant in Opening Extractives, a global five-year programme that aims to improve the availability and use …

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 law was delayed.

One of the key changes is that the law will give local governments the impetus to crack down on illegal mining by devolving responsibility from the federal to the state level of government. "The 2007 act is very federal government-centric, so essentially the powers and ownership of mineral rights under the act r…

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; …

Mining Operation in Nigeria. With plans to revise the Nigeria Minerals and Mining Act (NMMA), the Nigerian government has taken the first step towards restoring its mining sector to its former glory and beyond. A little history. The Nigerian land is blessed with outstanding mineral reserves. Until 1967, the country was a major exporter of coal ...

The NMCO, which became an autonomous agency of government, as provided by section 5(1) of the Nigerian Minerals and Mining Act, (2007), is responsible for the management and administration of mineral titles, considered to be the cornerstone of a secure mineral rights system that would guarantee revenue generation and …

Towards ensuring growth and investment in the mining sector, the federal government has announced that the amendment of the Nigeria Minerals and Mining …

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.

Kampala, Uganda | THE INDEPENDENT | Parliament has passed the Mining and Minerals Bill, 2021 which will see the establishment of the Uganda National Mining Company which will manage the government's commercial holding and participating interests in mineral agreements. The Bill that was passed on 17 February 2022 …

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ULE.THE MINES AND MIN. RALS (DEVELOPMENT AND REGULATION) ACT, 1957 ACT NO. 67 OF 1957[28th December, 1957.]An Act to provide for t. ment in the Eighth Year of the Republic of India as follows:―CHAPTER I PRELIMINARYShort title, extent and commencement.―(1) Th. Act may be called the Mines and.

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. This Act concerns the rights in and management of mineral resources in Nigeria.

(2021: 0.63%), representing a 32% year on year growth over 20212. Interestingly, the Sector has witnessed ... approved a draft amendment of the Nigerian Minerals & Mining Act ("the Act"), 2007 - the principal legislation regulating the mining of …

Tax Incentives. While the tax incentives for mining companies are mainly contained in the NMMA, the enabling statute governing the taxation of mining companies in Nigeria is the Companies Income Tax Act (CITA). The Finance Act 2019 which was passed early 2020 also provides certain amendments to some of the provisions of the …

The Nigerian Minerals and Mining Act 2007 (the 'NMMA' or the 'Act') Enacted by the National Assembly pursuant to its constitutional mandate, the NMMA is the principal law governing the mining sector. It is the primary sectoral law which also vests ownership and control of mineral resources in the FG, to hold and manage same on …

the share recorded in the third quarter of 2021 which was 92.51% and higher than the second quarter of 2022 recorded as 93.67%1. However, the Nigerian mining sector ("the Sector") only contributed a meager 0.3% to Nigeria's GDP in Q3 of 20222, although higher than the GDP contribution recorded in Q3 of 2021 i.e., 0.2%.

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 …

This Act repeals the Minerals and Mining Act, No. 34 of 1999 and re-enacts 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. ARRANGEMENT OF SECTIONS. CHAPTER I: Minerals, Prospecting, …

Act Section Mining and Minerals Act THE MINING AND MINEI{ALS ACT,2022 ARRANGEMENT OF SECTIONS 2022 10 PARL $' (Panr I-PmuvrNan' I . Commencement 2. Application 3. Purpose ofAct 4. Environmentalprinciples 5. Responsibility ofmineral rights holder 6. Compliance with other written Iaws 7. Security lor compliance 8. Interpretation …

The Attorney General is expected to send the bill, which is the Nigerian Minerals and Mining Act 2023, to the National Assembly. by Mary Izuaka. April 5, 2023. Reading Time: 1 mins read 0. The ...