Nigerian Mining Sector Brief | KPMG | NG

Nigerian Mining Sector Brief

Nigerian Mining Sector Brief

It is important that current and potential investors in the sector understand the applicable compliance, regulatory and fiscal considerations. Adopting an informed investment and operating strategy is key to building a sustainable and profitable business. Therefore, to help investors navigate the sector, KPMG Nigeria has put together this sector guide.

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Nigeria Mining Sector Brief

About 44 mineral occurrences have been reported in Nigeria. A number of these minerals are estimated to exist in commercial quantities, including Nickel, Bitumen, Iron Ore and Coal.

In the 1970’s, Nigeria was a recognized global mining destination, with significant production of coal, tin and columbite. However, with the discovery of crude oil in the Niger Delta region, the nation became a major producer of petroleum products whilst neglecting the concurrent development of the mining sector.

However, in recognition of the sector’s capability to promote the economic diversification agenda and contribute more to the Nations GDP, the Government has implemented a number of initiatives to accelerate its development. However, some of the challenges that impede the rapid development of the sector include; limited geological/geographical information, infrastructure gaps, project funding, illegal mining and other community challenges.

It is important that current and potential investors in the sector understand the applicable compliance, regulatory and fiscal considerations. Adopting an informed investment and operating strategy is key to building a sustainable and profitable business. Therefore, to help investors navigate the sector, KPMG Nigeria has put together this sector guide.

Some of the topics covered in the guide include:

- strategic minerals and metals as designated by the Government,
- available types of minerals rights and process of obtaining them, and
- fiscal and regulatory issues applicable in the sector.

For further reading, please download the full publication here

© 2017 KPMG Professional Services in Nigeria, a limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (KPMG International), a Swiss entity. All rights reserved.

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