The main legislation controlling Nigeria’s mining industry is the Minerals and Mining Act (2007). In Nigeria, the law governs every facet of the exploration and extraction of solid minerals. Below are links to more significant laws that make up the mining industry’s regulatory framework.
West Africa has for long been a destination of choice for mining executives the world over, with countries like Burkina Faso, Ghana, Ivory Coast and Niger being actively explored and mined. Nigeria, Africa’s most populous nation, fortuitously located in this remarkably prospective region is opening up its mining sector and taking aggressive steps to become an alternate mining destination. The mineral spread in Nigeria is significant with evidence of over 34 different minerals distributed in Nigeria’s richly endowed geology.
The Mining Industry being a global industry has many countries competing for exploration funds. The fierce international competition suggests that mining companies and their investment funds would only go to those countries whose enabling environment would allow the private sector to flourish without hindrance. Nigeria is blessed with a multitude of mineral resources and to benefit from the investment funds, the Nigerian government has to raise its standards by working towards the creation of an orderly and sustainable development of Nigeria’s Minerals Resources.
In recent times, the actions of the government can be said to be commendable as they have put certain strategies in place to help develop the mining sector. The development of the Mineral and Mining Act (2007) (The Act) is one highly commendable action of the Nigerian government to create an enabling environment for business to flourish. The Act contains specific provisions that will enhance private sector leadership in the development of the mining industry in the country. One of such salient provision in mirroring the Nigerian Constitution, vests entire property in and control of all Mineral Resources in, under, or upon any land in Nigeria, its contiguous continental shelf and all rivers, streams and water courses throughout Nigeria, any area covered by its territorial waters or constituency and the exclusive economic zone in the Federal Government of Nigeria.
There are also various types of licences granted under the Act giving one the right to search for or exploit Mineral Resources. They can be obtained through one of the following mineral titles:
(a) Reconnaissance Permit
b)Exploration Licence
c)Small Scale Mining Lease
d)Mining Lease
e)Quarry Lease
f) Water Use Permit
