Nigeria - An Economic Analysis of Natural Resources Sustainability for the Mining Sector Component

This report firstly presents an analysis of the Nigerian economy as the environment within which the solid minerals sector is situated. It discusses the economy in terms of its distinguishing characteristics, structure and related issues, such that the place of the sold minerals sector can be appreciated. An examination of policy issues and economic reforms to aid the development process is also presented. This 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 small-scale operations, working below their full potential and literally scratching the surface. Preliminary investigations indicated a lack of up to date information on deposits and lack of microeconomic information on the feasibility of extraction. The study is considered to be important from two different perspectives. First, solid mineral resources are economically, socially and environmentally crucial for Nigeria. There are key knowledge gaps in the sector. In addition the utilization of solid mineral resources is well aligned with the Bank's country partnership strategy, which is placing a strong focus on nonoil growth sectors of the economy. The other perspective comes from the environmental sector; the Bank has just completed the CEA (Country Environmental Analysis) and the idea is to continue the policy dialogue with the mining sector, and to help strengthen its links to the economic sectors where the environment is important. This study provides a major opportunity to carry this out. The primary objective of the study is to assess the prospects of an industrial mining sector emerging in Nigeria given what is known about the country's geology and mineral endowment as well as economic, institutional and other factors.

Bibliographic Details

Main Authors:	Eyre, J. M., Agba, A. V.
Format:	Other Environmental Study biblioteca
Language:	English
Published:	World Bank, Washington, DC 2007-05
Subjects:	ACCESS TO INFORMATION, ACCESS TO MINERALS, AGRICULTURE, AIRBORNE GEOPHYSICS, ARTISANAL AND SMALL-SCALE MINING, ARTISANAL MINING, ASM, ASM MINERS, ASM SECTOR, AUDITS, BALANCE OF PAYMENTS, BANKING SECTOR, BANKING SECTOR REFORM, BARITES, BAUXITE, BUDGET DEFICITS, CADASTRE, CAPACITY BUILDING, CAPITAL GOODS, CAPITAL MARKETS, CENTRAL BANK, COAL, COMPARATIVE ANALYSIS, COMPETITIVENESS, CONSUMERS, COPPER, COSTS OF EXPLORATION, DEBT, DECISION MAKING, DEREGULATION, DEVELOPED COUNTRIES, DEVELOPMENT OF MINERAL RESOURCES, DEVELOPMENT STRATEGIES, DEVELOPMENT STRATEGY, DIAMONDS, DOMESTIC INDUSTRIES, ECONOMIC ACTIVITY, ECONOMIC ANALYSIS, ECONOMIC DEVELOPMENT, ECONOMIC DEVELOPMENT IN MINERAL-RICH REGIONS, ECONOMIC EFFECTS, ECONOMIC EFFICIENCY, ECONOMIC GROWTH, ECONOMIC OUTLOOK, ECONOMIC PROBLEMS, ECONOMIC SECTORS, ECONOMIC THEORY, ECONOMICS, ECONOMIES OF SCALE, ECONOMISTS, EITI, EMPIRICAL EVIDENCE, ENVIRONMENTAL, ENVIRONMENTAL COMPLIANCE, ENVIRONMENTAL DEGRADATION, ENVIRONMENTAL ISSUES, ENVIRONMENTAL MANAGEMENT, ENVIRONMENTAL QUALITY, EQUILIBRIUM, EXPLOITATION, EXPLOITATION OF MINERALS, EXPORTS, EXTERNALITIES, EXTRACTION OF MINERALS, EXTRACTIVE INDUSTRIES, EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE, EXTRACTIVE SECTOR, EXTREME POVERTY, FINANCIAL SECTOR, FISHING, FORECASTS, FOREIGN DIRECT INVESTMENT, FOREIGN MINING, FORESTRY, FORMAL ANALYSIS, GAS, GDP, GEOLOGIC POTENTIAL, GEOLOGICAL KNOWLEDGE, GEOLOGICAL MAPPING, GEOLOGY, GOLD, GOOD GOVERNANCE, GROSS DOMESTIC PRODUCT, GROWTH POTENTIAL, GROWTH RATE, GYPSUM, INCOME, INCOME LEVELS, INDUSTRIAL MINERALS, INDUSTRIAL MINERALS SECTOR, INDUSTRIALIZATION, INFORMAL MINING, INTERNATIONAL MINING, INVESTMENT FLOW, IRON, IRON ORE, LARGE MINING, LARGE-SCALE MINING, LDCS, LESS DEVELOPED COUNTRIES, LIVING STANDARDS, MACROECONOMIC MANAGEMENT, MACROECONOMIC PERFORMANCE, MACROECONOMIC STABILITY, METALS, MINERAL COMMODITIES, MINERAL DEPOSIT, MINERAL DEPOSITS, MINERAL DEVELOPMENT, MINERAL ECONOMIES, MINERAL EXPLOITATION, MINERAL EXTRACTION, MINERAL INVESTMENT, MINERAL OPERATIONS, MINERAL POTENTIAL, MINERAL PRODUCERS, MINERAL PRODUCT, MINERAL PRODUCTION, MINERAL PROJECTS, MINERAL RENTS, MINERAL RESOURCE, MINERAL RESOURCES, MINERAL REVENUES, MINERAL RIGHTS, MINERAL SECTOR, MINERAL SECTOR DEVELOPMENT, MINERAL WEALTH, MINERALS PRODUCTION, MINERALS SECTOR, MINERALS ­ RESERVES, MINES, MINING ACTIVITIES, MINING ACTIVITY, MINING COMMUNITIES, MINING COMPANIES, MINING DEVELOPMENT, MINING INDUSTRY, MINING INVESTMENT, MINING LAW, MINING LAW AND REGULATIONS, MINING OPERATORS, MINING PERMITS, MINING PRODUCTION, MINING PROJECTS, MINING RIGHTS, MINING SECTOR, MINING TITLES, MISMANAGEMENT, MIXED ECONOMY, MMSD, NATIONAL ECONOMY, NATURAL RESOURCE BASE, NATURAL RESOURCES, NATURAL RESOURCES SUSTAINABILITY, NORMAL PROFITS, OIL, OIL COMPANIES, OIL INDUSTRY, OIL PRICES, OIL SECTOR, PAYMENT OF FEES, PAYMENT OF TAXES, PER CAPITA INCOME, POLITICAL ECONOMY, POLITICAL EFFECTS, POLITICAL STABILITY, POTENTIAL INVESTORS, POVERTY ALLEVIATION, PRESENT VALUE, PRICE INCREASES, PRICE LEVELS, PRIVATE MINING, PRIVATE MINING COMPANIES, PRIVATIZATION, PRODUCERS, PRODUCTION FUNCTION, PRODUCTION POSSIBILITY CURVE, PROPERTY RIGHTS, PURCHASING POWER, QUARRYING, REAL GDP, REGULATORY FRAMEWORK, RENT SEEKING, RESOURCE CURSE, RESOURCE MANAGEMENT, RESOURCE RENTS, RESOURCE USE, RESOURCE-RICH COUNTRIES, RETRENCHMENT, REVENUE SHARING, ROCKS, SMALL MINERS, SMALL SCALE, SMALL SCALE MINERS, SMALL SCALE MINING, SMALL-SCALE, SMALL-SCALE MINERS, SMALL-SCALE MINING OPERATIONS, SOLID MINERALS, SOLID MINERALS DEVELOPMENT, STEEL, STRUCTURAL ADJUSTMENT, SUSTAINABLE MANAGEMENT, TECHNICAL ASSISTANCE, TELECOMMUNICATIONS, TERMS OF TRADE, TIMBER, TIN, TRANSPARENCY, TRANSPARENCY OVER PAYMENTS, UNEMPLOYMENT, UNSTABLE MINERAL PRICES, VALUATION, VALUE ADDED, WEALTH CREATION, ZINC,
Online Access:	http://documents.worldbank.org/curated/en/2007/05/12648090/nigeria-economic-analysis-natural-resources-sustainability-mining-sector-component http://hdl.handle.net/10986/7941
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