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1. INTRODUCTION
1.1 Introduction to Solid Mineral in Nigeria
Under the Nigerian Minerals and Mining Act, 2007, section 1
(1) states that “the entire property in and control of all mineral
resources in, under or upon any land in Nigeria, its contiguous
continental shelf and all mines, streams and water courses
throughout Nigeria, any area covered by it territorial waters or
constituency and the exclusive economic zone is and shall be vested
in Government of the Federation for and on behalf of the people of
Nigeria”.
The mineral sector in Nigeria is currently dominated by artisanal
and small-scale mining operators. They are mainly informal,
working with rudimentary methods and limited technical training,
social provision and environmental consideration. It is only in
quarrying that large-scale operations exist with the construction
companies (stone aggregates and laterite) and cement manufactures
(limestone) dominating.
In a bid by the Government to attract foreign investors to the
Nigerian solid minerals sector there has been a transformation
process going on in the industry which has resulted in the
following:
Increase in mineral exploration activities arising from more
funding and repositioning of NGSA to effectively carry out

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geological and geochemical mapping has stranslated into the
production of geological data.
The creation of the MCO charged with the administration of
mineral titles on a first-come-first-serve and use-or-lose-it
basis resulting in increase in mineral title acquisition by both
local and international mining operators.
Increasing the capacity of ministry staff to carry out
designated functions as well as increasing the capacity of the
ASM to carry out mining in a sustainable manner through the
activities of the SMMRP.
Enactment of relevant laws and regulations needed to regulate
mineral exploration and exploitation activities in a transparent
manner, The Nigerian Minerals and Mining Act of 2007,
National Minerals and Metals Policy 2008, Nigerian Minerals
and Mining Regulations 2011.
However MMSD has identified thirty-four (34) minerals of economic
importance in Nigeria across the six regional mining zones. And
also the MMSD has also highlighted a number of strategic materials
that have the potentialities to contribute significantly to Nigeria’s
economic development. These include barite, gold, bitumen, iron-
ore, lead/zinc coal and limestone.
1.1.1 Taxation of the Solid Minerals
It is a statutory obligation of every limited liability companies to file
their annual tax returns with FIRS, on or before 30 June of every
year. And also any organisation that has more than five (5)

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1. INTRODUCTION 1.1 Introduction to Solid Mineral in Nigeria Under the Nigerian Minerals and Mining Act, 2007, section 1 (1) states that “the entire property in and control of all mineral resources in, under or upon any land in Nigeria, its contiguous continental shelf and all mines, streams and water courses throughout Nigeria, any area covered by it territorial waters or constituency and the exclusive economic zone is and shall be vested in Government of the Federation for and on behalf of the people of Nigeria”. The mineral sector in Nigeria is currently dominated by artisanal and small-scale mining operators. They are mainly informal, working with rudimentary methods and limited technical training, social provision and environmental consideration. It is only in quarrying that large-scale operations exist with the construction companies (stone aggregates and laterite) and cement manufactures (limestone) dominating. In a bid by the Government to attract foreign investors to the Nigerian solid minerals sector there has been a transformation process going on in the industry which has resulted in the following: Increase in mineral exploration activities arising from more funding and repositioning of NGSA to effectively carry out geological and geochemical mapping has stranslated into the production of geological data. The creation of the MCO charged with the administration of mineral titles on a first-come-first-serve and use-or-lose-it basis resu ...
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