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May 03, 2013· Mining industry of Nigeria – Wikipedia, the free encyclopedia. The mining of minerals in Nigeria accounts for only % of its GDP, due to the influence of its vast oil resources.

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Mining regulation is handled by the Ministry of Solid Minerals Development, which oversees the management of all mineral resources. Mining law is codified in the Federal Minerals and Mining Act of 1999. Historically, Nigeria's mining industry was monopolized by state-owned public corporations.

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Nigeria is Africa’s largest oil producer and contributes 3% to global production. As a result, the mining industry has been neglected and has only been rekindled by the Ministry of Solid Mineral Development, intent in increasing …