TAXATION OF NIGERIA'S SOLID MINERAL RESOURCES: PROSPECTS AND CHALLENGES Kamoru Taiwo Lawal* Abstract Nigeria is endowed with a number of mineral resources. The Federal Government of Nigeria, being the owner of these resources, formulates polices which guarantee it some compensation for allowing extraction of these resources.
Get PriceDeveloping The Solid Minerals Sector: Quick Wins For The New, 22 Jun 2015, Nigeria is recorded to have less than 05% of GDP from mining of solid minerals, formula used in the oil and gas industry in sharing the tax and royalty revenues accruing from the development of the solid minerals sector
[PDF]Get PriceNigeria Solid Minerals. Solid Mineral Deposits in Nigeria. Talc Over 40 million tonnes deposits of talc have been identified in Niger, Osun, Kogi, Ogun and Kaduna states. The Raw Materials Research and Development Council (RMRDC)'s 3,000 tonnes per annum catalytic plant is the only talc plant in the country. The talc industry represents one ...
Get PriceMay 19, 2017 · This article examines the taxation of mineral resources (solid minerals in particular) in Nigeria vis-à-vis the various taxes payable by the various entities. In doing this, the various extant tax laws on are examined. The article further examines the challenges and the prospects of mineral taxation in Nigeria.
May 03, 2019 · Solid minerals are naturally occurring substances that are solid and inorganic, representable by a chemical formula.Nigeria is a country rich in arts, culture, and mineral resource. Solid mineral resources can be found in large quantities in the fertile country, Nigeria, however, due to the influence of oil resources the mining industry only makes up for o.03% of the GDP.
Get PriceThe maiden report, which covers 2007 to 2010, shows that over 70 per cent of mining title holders in Nigeria's solid mineral sector are inactive companies, causing Nigeria's government huge ...
[PDF]Get PriceNov 09, 2018 · The vastness of Nigeria's minerals resources cannot and should not be over emphasised. We began to explore and exploit her natural mineral resources in 1902 and in its prime, the solid minerals sector was one of the largest producers of tin and coal, as well as a producer of a considerable 1.4 tons of gold annually.
Get PriceReport on the Financial Audit of Nigeria Solid Minerals Sector 2007-2010 1 NIGERIA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE (NEITI) ... Management of Mineral Resources Project T.C.C Tax ...
[PDF]Get PriceAn Overview of Oil, Gas and Solid Minerals Taxation Olufunlola O. Adediran* Oil, gas and solid minerals accounts for about 95% of Nigeria's export earnings. The importance of the industries to Nigeria's development cannot be overemphasised. The paper explores the origin of the industries in Nigeria and their commercial structure.
[PDF]Get PriceSep 11, 2018 · THE Nigerian mining sector is gradually becoming the toast of both local and foreign investors, going by the current reforms undertaken by the Federal Government in .
[PDF]Get PriceThere are several other minerals in Nigeria which are mentioned in this article. However, as much as the mentioned solid minerals are important and unique, so are the other ones that have not been mentioned. Despite the good number of solid mineral deposits found in Nigeria, many have not really been excavated by the government.
Get PriceNigeria, no doubt, is endowed with vast reserves of solid minerals, including, but not limited to, precious and base minerals, industrial minerals, energy minerals, and metals. ... of the mineral ...
Get PriceJun 13, 2014 · Nigeria and solid mineral gains ... EXPLOITATION and exploration of solid minerals are governed by The Nigerian Minerals and Mining Act 2007 ("the Act") which was passed into .
[PDF]Get PriceThe main mineral resources in Nigeria include oil, natural gas, coal, iron ore, tin ore, rare metals (niobium, tantalum). There are also deposits of brown coal, uranium, manganese, tungsten, gold, copper, molybdenum, lead, and zinc, mining chemical raw materials etc. A list of solid minerals in Nigeria includes at least 12 solid minerals.
Get PriceThe main mineral resources in Nigeria include oil, natural gas, coal, iron ore, tin ore, rare metals (niobium, tantalum). There are also deposits of brown coal, uranium, manganese, tungsten, gold, copper, molybdenum, lead, and zinc, mining chemical raw materials etc. A list of solid minerals in Nigeria includes at least 12 solid minerals.
Get PriceList of mining companies in Nigeria. Find addresses, telephones, contacts and locations. ... Eta-Zuma Group is a vibrant company engaged in mining and processing of solid minerals. 3 Kinsfield Energy Ltd. 3 Michika Street, Garki Area 11, Abuja FCT ... office offering institutional and technical capacity to manage Nigeria's mineral resources. 6 ...
Get PriceA lower income tax rate of 20% is applicable to a Nigerian company that engaged in manufacturing or agricultural production, mining of solid minerals or wholly export trade, within the first five years of operation, and where the turnover does not exceed NGN1 million
[PDF]Get PriceThe main solid minerals in Nigeria's mining industry include coal, tin, niobium and gold. In 2010, Nigeria produced an estimated 21,200 metric tons of aluminium, 600 kg of gold, 50,000 metric tons of iron ore, 450,000 metric tons of bituminous coal, 190 metric tons of niobium (columbium) and 230 metric tons of tin (US Geological Survey).
Get PriceAn Overview of Oil, Gas and Solid Minerals Taxation Olufunlola O. Adediran* Oil, gas and solid minerals accounts for about 95% of Nigeria's export earnings. The importance of the industries to Nigeria's development cannot be overemphasised. The paper explores the origin of the industries in Nigeria and their commercial structure.
Get PriceChineme Okafor in Abuja Stakeholders tracking regulatory and process issues in Nigeria’s solid minerals sector Yuesday said tax holidays and other tax related incentives often given to ...
Get PriceThe government is committed to diversifying the nation's economy; from dependence on oil revenue to non-oil revenues. In September 2016, the Federal Government of Nigeria through the Ministry of Mines and Steel Development, re-launched the Solid Mineral Policy Roadmap, aimed at ensuring policy continuity and consistency in the sector. During ...
Get Price
