Problems and Strategies for Exploration of Solid Mineral Resources in Nigeria

Micah Elton Ezekiel Mike and Ibitomi Taiwo
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Micah Elton Ezekiel Mike: Department of Accounting, Air Force Institute of Technology, Kaduna
Ibitomi Taiwo: Department of Business Adminstration, Nasarawa State University, Keffi, Nasarawa State

International Journal of Research and Innovation in Social Science, 2020, vol. 4, issue 7, 485-489

Abstract: Evidence revealed that mineral resources are available in large quantities and distributed across the country but the strategies for exploration has been the major obstacles to the success in Nigeria. This paper therefore, studies the problem and strategies for exploration of solid mineral resources in Nigeria. The objectives of the study is to examine the problems of solid mineral in Nigeria, the strategies for exploration of solid mineral in Nigeria and the way to attract investors to the sector for optimal exploration. Based on the findings of this study, the problems of solid minerals in Nigeria are inadequate basic infrastructural, illegal mining, unfavorable laws in the sector, high capital outlay, inadequate professional in the sector and many more. The strategies that can be used for exploration of solid mineral in Nigeria should includes resource control policy, exploration of mineral resources should be private sector, the tenure of the private miners should be secured and the establishment of fund to protect the environment should be provided. The study therefore conclude that there are many problems causing the hindrance of the progress of the sector in generating revenue to the country but the strategies mentioned in this study can be used to achieve success in the sector and make it viable for investors to come in and develop the sector for optimal benefit to the nation at large.

Date: 2020
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