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...
| Main Authors: | , |
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| Format: | Other Environmental Study |
| Language: | English |
| Published: |
World Bank, Washington, DC
2012
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| Subjects: | |
| 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 |
| Summary: | 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. |
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