Why did the Nigerian Mining Corporation (NMC) fail?
The Nigerian Mining Corporation (NMC) was formed in the early 1980s to explore gold. Lack of funding and the lure of easier profits from oil production led to its failure. In recent times, there has been some development in gold exploration in Osun State in South Western Nigeria.
What is oil palm production in Nigeria?
Oil palm production industry is an important sub-sector in the Nigeria?s economy where several plantations and wild farms exist. According to the Federal Ministry of Agriculture, Akwa Ibom is the third largest producer of palm oil and kernel in Nigeria (FMA, 2002).
Is palm oil processing a viable economic activity in South-South Nigeria?
Abstract: Oil palm processing and marketing in South-South Nigeria is one economic activity in which the people eke a living and sustain their lives. Despites its economic importance, the business is fraught with series of challenges begging for solutions. This study was conducted in three palm oil processing communities in Akwa Ibom State.
Why is mining a problem in Nigeria?
The mining of minerals in Nigeria accounts for only 0.3% of its gross domestic product, due to the influence of its vast oil resources. The domestic mining industry is underdeveloped, leading to Nigeria having to import minerals that it could produce domestically, such as salt or iron ore.