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contribution of mining industry to the economic development in nigeria

ECONOMIC DEVELOPMENT IN NIGERIA THROUGH THE

ECONOMIC DEVELOPMENT IN NIGERIA THROUGH THE AGRICULTURAL, MANUFACTURING AND MINING SECTORS AN ECONOMETRIC APPROACH by DENNIS CHIEKWEIRO UZOIGWE SUPERVISOR PROFESSOR A. C. JORDAAN CO-SUPERVISOR PROFESSOR NELSON JAMES BLIGNAUT DEPARTMENT ECONOMICS DEGREE PHD (ECONOMICS) ABSTRACT In the 1960s, Nigeria was on a par, in terms of aspirations to attain a very high level of economic

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Sectors of the Nigerian economy Legit.ng

The first mining products for export in Nigeria were tin ore and coal. Since 1904, mining of cassiterite and tin ore on Jos plateau has always been in hands of private companies, and coal mining in Enugu district under the control of Central government. After setting up tin-melting plant in 1962, a larger part of tin began to be exported in the form of bars. After 1960 in connection with the

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Top 10 indicators of economic development in a country

What is economic development? It's a multifaceted process embracing economic growth, structural changes in the economy, improving the conditions, and quality of life of the population. Various models of economic development are known. But for all their diversity and national characteristics, there are general patterns and parameters characterizing this process. In this article, you will

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Growth of Nigeria's mining industry fails to lift tax

The development objective of Mineral Sector Support for Economic Diversification Project for Nigeria, according to the World Bank is to enhance the mining sector's contribution to the economy by

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The Mining Industry in Ghana A Blessing or a Curse

industry in the world and it plays a crucial role in world economic development. The trade of mineral commodities represents a substantial part of international trade (Madeley, 1999). There are two kinds of mining; surface and underground mining. Surface mining, also called open-pit mining or strip mining is undertaken if the mineral deposit lies on the surface of the earth. This method is

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Agricultural Sector Performance and Nigeria's Economic Growth

of facilitating economic growth and development of the nation, just as the sector did in the past decades. The sector's contribution to total real gross domestic product (RGDP) ranges from 30% to 42%, and has as well engaged over 65% of the country's total workforce. Agriculture in developing economies like Nigeria is conceived as a prevailing economic activities or occupation from which

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AN ECONOMIC ANALYSIS OF NATURAL RESOURCES

part of the overall economic analysis of natural resources and helps to strengthen the links between the mining sector with the economy and the environment. The study, carried out between February and April 2007, specifically addresses the prospects of developing an industrial mining sector in Nigeria. The current mining sector is dominated by

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Economic Growth And Development Of Nigeria

Economic history provides sufficient evidence that agricultural revolution is important and a pre-condition for economic growth and development, especially in developing countries like Nigeria (Woolf and Jones, 1969; Oluwasanmi, 1966; Eicher and Witt, 1964). The basis of the problem in the Nigerian economy is as a result of poor concentration of the agricultural sector by the Government

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Economic development in Nigeria Geography

How manufacturing industry can stimulate economic development the role of transnational corporations (TNCs) in relation to industrial development. Advantages and disadvantages of TNC(s) to the host country the changing political and trading relationships with the wider world international aid types of aid, impacts of aid on the receiving country the environmental impacts of

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Contribution Minerals and Mining Sector to National

Contribution of mining to Ghana's economy. With a reasonably well-known and attractive mineral resource base, significant mining investment has been attracted into the country over some 20 years of stable multi-party democracy. The mining sector has therefore been an important part of our economy, with gold accounting for over 90% of the sector. Ghana is the second largest gold producer in

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Zambia Industry & Trade

In the mining industry of Zambia, the output fell in 2011 to 0.7% as there was an uncertainty due to presidential elections due to which major investment projects were deferred. With the 2011 elections gone smoothly, the mining investment picked up the pace with a growth of 10.6% and 10.3% in 2012 and 2013. In the recent years, the construction industry has been pivotal in economic growth of

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Mining industry of Nigeria Wikipedia

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 salt or iron ore.Rights to ownership of mineral resources is held by the Federal government of Nigeria, which grants titles to organizations

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Economic Development in Nigeria An Overview

Economic development in Nigeria, although has been rocked back and forth by various political, socio-cultural, financial and infrastructural setbacks, the economic development of a country like Nigeria can't be said to have totally been where it used to be, or to have back tracked as some people insinuate. Nigeria is a middle income, mixed economy and emerging market, with expanding

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The Impact of Banking Sector Development on Economic

Whether banking industry development supports Palestinian economic growth or not is critical question empirically. Thus, this study examines the impact of some banking sector indicators (credit facilities, depositors fund, the number of branches, and interest rate,) on gross domestic product using quarterly data from the period of 2000 to 2015. The empirical model was carried out using

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Nigeria targets 5% mining sector growth by 2025 as

WorldStage Newsonline-- Nigeria's Minister of Mines and Steel Development, Mr Olamilekan Adegbite has emphasised the importance of achieving the projected five per cent growth in the mining sector by 2025, saying it would lead to the nation's economic growth and recovery through its

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THE ROLE OF FOREIGN DIRECT INVESTMENT (FDI) IN THE MINING

However, in spite of these positive indicators, the role of the mining industry in the economic development of Ghana is a suspect. Despite the over U$2 billion FDI attracted in mineral exploration and mine development during the last decade representing over 56% of total FDI flows to the country, (with the attendant increase in mineral export) the sector is yet to make any impact on the

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The Role of Social and Economic Infrastructure in

also reduce its quota/contribution to GDP of Nigeria's economy. The focus on economic development has shifted over the years from one sector of the economy to the other. The manufacturing sector is usually looked upon because of the large knowledge of its great contribution to economic development. Studies like Tun Wai and Wong (1982), Pagoulatos and Sorensen (2006), Page (2004)

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Nigeria targets 5% mining sector growth by 2025 as

WorldStage Newsonline-- Nigeria's Minister of Mines and Steel Development, Mr Olamilekan Adegbite has emphasised the importance of achieving the projected five per cent growth in the mining sector by 2025, saying it would lead to the nation's economic growth and recovery through its

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The Nigerian services sector has shown impressive gains

"Nigeria's Film Industry Nollywood Looks to Expand Globally." Nollywood accounted for approximately 1.1% of Nigeria's GDP in 2014. 2 In April 2014, Nigeria's National Bureau of Statistics rebased its GDP calculation to the year 2010. The International Monetary Fund's standard practice is to update GDP numbers every five years to reflect changes in pricing patterns and an economy�

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Contribution of Agriculture to Economic Growth in Nigeria1

However, sustained economic development cannot be achieved without economic growth. As expressed by the World Bank (2006), high poverty level will lead to low growth and low growth will lead to high poverty level. Thus, economic growth is necessary for sustained economic development (Akanbi & Du Toit, 2011; World Bank, 2006). This paper investigates the contribution of agriculture to

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Tanzania Economic Outlook 2016 The Story Behind the Numbers

Economic Outlook 2016 Disclaimer This publication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms, or its and their affiliates are, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or

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Mining industry and sustainable development time for

Sustainable Development and Mining. Mining impacts always existed and we still have mines opened in Roman times with acid mine drainage, waste piles, and environmental contamination. Large‐scale mining grew during the 19th and 20th centuries with impacts neglected and hidden costs. Impacts on miners' health due to occupational exposure to

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Mining remains pillar for economic development

T he mining industry remains a key enabler of industrialisation and broad-based economic development of Ghana, the Minister of Lands and Natural Resources, Mr Kwaku Asomah-Cheremeh, has said.. He said the industry's contribution to gross domestic product (GDP), internal revenue generation and socio-economic development was very significant to the development of the economy.

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The Impact and Effect of Illegal Mining (galamsey) towards

Mining is an important economic activity which has the potential of contributing to the development of areas endowed with the resources. Materials recovered by mining include bauxite, coal, diamonds, iron, precious metals, lead, limestone, nickel, phosphate, rock salt, tin, uranium, and molybdenum. Mining in a wider sense can also include extraction of petroleum, natural gas, and even water

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NIGERIA THE COLONIAL ECONOMY, 1860-1960

Another significant economic activity during the colonial period was mining of such minerals as coal, tin, columbite, petroleum and gold. The colonial authorities controlled the mining of gold, but left the mining of the other minerals to private foreign companies. It gives information about the contributions of the minerals to the country's foreign exchange earnings between 1900 and 1960. As

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Nigeria Mineral Sector Support for Economic

Nigeria Mineral Sector Support for Economic Diversification Project Environmental Assessment Strategic Environmental and Social Assessment (English) Abstract The development objective of the Mineral Sector Support for Economic Diversification Project for Nigeria is to enhance the mining sector's contribution to the economy by strengthening key government institutions, improving

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Using the mining sector to diversify Nigerian economy

At this juncture, Nigeria has no option than to diversify the economy via other natural endowment the country is blessed with, which is why President, Muhammed Buhari believes developing mining

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The Impact of Domestic Investment on Economic Growth New

investment decision and create the appropriate climate for economic development and maximizing wealth, thus making researchers in the economy pay great attention to study investment in terms of economic, financial and accounting. Respect of domestic investment at the level of the national economy, capital spending on new projects in the sectors of public utilities and infrastructure such as

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The Role of Social and Economic Infrastructure in

also reduce its quota/contribution to GDP of Nigeria's economy. The focus on economic development has shifted over the years from one sector of the economy to the other. The manufacturing sector is usually looked upon because of the large knowledge of its great contribution to economic development. Studies like Tun Wai and Wong (1982), Pagoulatos and Sorensen (2006), Page (2004)

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A study of the challenges of gemstones artisanal and small

of the sector, the contribution of the mining sector to the social and economic development of the nation falls below expectation. The primary drivers of the gemstone mining industry in Nigeria

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