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By act of state, the colonial government vested in itself the ownership of all minerals except iron, salt, potash and milling stone, as a first step towards the control of minerals, including mineral oils, especially in Northern Nigeria.

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Apr 03, 2001· Oil was first discovered in commercial quantities in Nigeria in 1956 near Oloibiri Village in Rivers State. The discovery was made by Shell D’Arcy, a company of Anglo/Dutch origins. The company began production in 1958 with an average production of 6000 barrels of oil per day (bopd). Nigeria currently produces about 2 million bopd.

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The Nigeria Government viewed the solid mineral industry as a profit oriented sector, and became involved in exploration, exploitation and marketing of solid minerals as observed by the setting up of the Nigeria Mining Corporation (NMC) in 1973.

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Aug 08, 2014· Mineral Resources in Nigeria and Their Uses Mineral Resources in Nigeria and Their Uses ; Every area of society uses minerals and mineral resources everyday. The roads we ride or drive on and the buildings we live learn and work in all contain minerals.

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The mining of minerals in Nigeria accounts for only 0.3% of its GDP, due to the influence of its vast oil resources. The domestic mining industry is underdeveloped, leading to Nigeria having to import minerals that it could produce domestically, such as …

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Management of mineral resources has, therefore, to be closely integrated with the overall strategy of development; and exploitation of minerals is to be guided by long-term national goals and perspectives. Types of Mineral Resources: Minerals in general have been categorized into three classes’ fuel, metallic and non-metallic.

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Mar 17, 2010· The Nigerian Minerals and Mining Act 2007 ("the Act") was passed into law on March 16, 2007 to repeal the Minerals and Mining Act, No. 34 of 1999 for the purposes of regulating the exploration and exploitation of solid materials in Nigeria.

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Exploitation of natural resources - Wikipedia

The exploitation of natural resources is the use of natural resources for economic growth, sometimes with a negative connotation of accompanying environmental degradation. It started to emerge on an industrial scale in the 19th century as the extraction and processing of raw materials (such as in mining, steam power, and machinery) …