The Mining Industry in Nigeria, though not operating optimally due to the over-dependence on Crude oil, is definitely a haven of immense benefits to Investors and the country alike by serving as a huge source of foreign exchange as well as immense job creation for Nigeria’s manpower pool.

This article will be focusing on the Regulatory Framework governing the Mining Industry in Nigeria with a focus on :-

– The legislations and regulations guiding the Mining Industry in Nigeria.

– Which level of government has actual Regulatory jurisdiction over Mineral rights and Mining in Nigeria.

– The Business licenses and permits available in Nigeria’s Mining Industry

What are the major laws and regulations governing Nigeria’s Mining Industry?

The Mining Industry in Nigeria is governed by the following laws :-

– The Constitution of the Federal Republic of Nigeria 1999(as amended).

– The Nigerian Minerals and Mining Act(NMMA) 2007 and the Nigerian Mineral and Mining Regulations 2011.

– The National Environmental Standards & Regulations Enforcement (Establishment) Act 2007.

– The Environmental Impact Assessment Act.

– The Mines and Quarries Act.

– The Explosives Act. 

– The Foreign Exchange (Monitoring & Miscellaneous Provisions) Act .

Under the NMMA,the unauthorized exploration of minerals is prohibited.

Does the NMMA provide incentives for investors in Nigeria’s Mining Industry?

Yes it does. Some of these incentives include :-

– Tax relief periods of up to 5 years.

– The free access to the use of foreign exchange & the unhindered mobility of foreign exchange (meaning that Foreign exchange invested/earned by Mining Industry investors can be transferred easily).

– A Customs duty exemption.

Which tier of government/agency actually has apex regulatory control over the mining industry in Nigeria?

The Federal Government of Nigeria through the Ministry of Mines and Steel Development has apex jurisdiction and ownership rights(on behalf of the state) on all rights and resources in Nigeria by virtue of the Constitution which places mining under Item 39 of the exclusive legislative list. The rights of the Federal Government are transferrable.

This applies even though state governors have primary ownership of all lands in a state by virtue of the Land Use Act 1978.

What are the available Business licenses in the Nigerian Mining Industry by virtue of the NMMA?

Some of the business licenses granted in Nigeria’s Mining Industry include :-

1. Exploration Licenses :- This is a license for the exploration of all minerals in a land area not exceeding 200sqkms for a 3-year duration and which is biannually renewable. This license also allows for bulk sampling, the exporting if samples and the selling of resources within stated limits.

2. Reconnaissance Permits :- These are annually renewable non-exclusive permits for the purpose of entering any land in Nigeria in order to procure and remove surface samples in search of mineral resources.

3. Small Scale Mining Leases :- These are mining leases for small scale mines covering areas not exceeding 3 sqkm and which are valid for 5 years (and renewable for another 5 years).

4. Mining Leases :- These are exclusive permits lasting 25 years (& renewable for another 24 years) for areas under a 50sqkm limit.

5. Mineral Buying Centre License (MBCL) :- This is a license for the trading & storage of mineral resources.

6. Quarrying Leases :- These are 5-year permits for minerals like slate, china clay, gypsum, mica, sand, stone, gravel, and limestone regarding an area of land not exceeding 5 hectares.

7. Export Permits :- These are permits for the export of mineral resources.

8. Possess or Purchase Licenses :- These are licenses for the right to directly engage in the trade & export of mineral resources.

9. Water Use Permits :- These are rights to procure & use water for licensed mining operation purposes and permits of this nature have validity period that last as long as the primary mining license they are attached to.

There is no doubt that the current financial crisis has hit the crypto market. Contrary to what many investors initially believed, digital currencies are not immune to the current economic downturn, and as a result, the market capitalization of major cryptocurrencies has plummeted to unimaginable levels. Dogecoin (DOGE) and Shiba Inu (INU), the leading tokens in the meme market, also did not escape the crisis. At its peak in 2021, Dogecoin (DOGE) will have a market cap of over $88 billion. At the time of writing, it has a market capitalization of just over $19 billion. It’s safe to say that it hasn’t been a great year for cryptocurrencies, but there may still be hope. Let’s explore some viable options to consider despite these struggling economic conditions.

Dogecoin (DOGE): The Ultimate King of Meme Coins

Dogecoin (DOGE) is the ultimate king of the meme sector cryptocurrencies. However, like all major cryptocurrencies, it also faced various difficulties in the last few months due to the extensive bearish market. Economic issues aren’t the only thing Dogecoin (DOGE) has to worry about now. It is now facing lawsuits over its contributions to the Ponzi scheme after Elon Musk’s Twitter support for the intriguing Dogecoin has run out. The accusers allege that Musk deliberately increased the price of Dogecoin (DOGE), effectively creating a pyramid scheme. Although the lawsuit is not yet settled, there is no doubt that it will damage the credibility of Dogecoin (DOGE). Despite all of this, the coin has performed exceptionally well recently and ranked 8th in terms of market capitalization.

Shiba Inu (SHIB): Another Meme Coin Pioneer

Dogecoin’s (DOGE) main rival, Shiba Inu (INU), suffered a similar failure. When Elon Musk expressed interest in getting a Shiba Inu, his manipulative remarks sparked investments in meme tokens. Now that all the buzz has settled, Shiba Inu developers are hard at work creating features that will allow its ecosystem to thrive without Elon Musk’s help. Despite that, it is still one of the best meme coins that you can invest in and it ranks among the top 15 cryptocurrencies globally.

Big Eyes Coin (BIG): Aiming for BIG Disruption

Big Eyes Coin (BIG) is currently the newest and hottest project in the cryptocurrency market. This new meme coin is considered a revolutionary coin and will set a precedent for several upcoming trends. Even though meme coins are primarily built for community enjoyment, other forms of wealth creation continue to exist. In addition to using DeFi as a wealth creation tool, the project regularly hosts community events, contests, events, etc. to continue building evidence-based hype. With the speed at which the Big Eyes (BIG) presale tokens were sold, and the token price increasing by 25% after each stage was completed, it is no exaggeration to say that Big Eyes Coin (BIG) has been very successful.

However, there will be economic pressure for some time. The Big Eyes Coin (BIG) community is effectively driving this hype, not just for themselves. With dedicated social media channels and a Telegram group offering exclusive announcements, the community is easily drawn to the Big Eyes story and the powerful message of the charity behind it. For those interested, Big Eyes Coin (BIG) hosts numerous competitions, including its current Gleam contest where anyone can win $250,000. This contest is just one of the ways Big Eyes Coin (BIG) is expanding its investor base.

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The crypto market, just like other financial markets, is full of people trying to compare different cryptocurrencies to find the one with the most potential. Finding the right crypto to put money in could yield enough profit to retire and the profit Solana (SOL) and Stellar (XLM) have given their users over the years are the reason they are so popular within the crypto market. Now that Big Eyes Coin (BIG) has joined the market, it wants to add its name to that list of the most profitable cryptocurrencies by outperforming Solana (SOL) and Stellar (XLM).

Big Eyes Coin (BIG): It’s Time to Make History

Big Eyes Coin (BIG) is new in the market but it’s more than just another crypto launch. It’s a meme coin that wants to show the crypto world the power that meme coins have by building and sustaining a strong ecosystem that can grow by itself. With the wealth Big Eyes Coin (BIG) will generate from this ecosystem, it wants to support a good cause: saving the earth’s oceans. With this wealth, Big Eyes Coin (BIG) holders will receive unprecedented profit and Big Eyes Coin.

(BIG) will sustain this community with events built around NFTs and regular giveaways. Big Eyes Coin (BIG) has the potential to attract a lot of new users to Decentralized Finance (DeFi) and it wants to provide a comfortable platform for them to land on.

With simplified systems and an easy-to-understand and easy-to-use platform, new users will feel at home when using Big Eyes Coin (BIG) and there will also be tutorials and guides to help the learning process.

Solana (SOL): The Benchmark for Ethereum Killers

The Solana blockchain was built to promote blockchain accessibility and adoption using the Solana (SOL) token. Solana (SOL) is a direct rival to Ethereum (ETH) and can perform a lot of similar functions. However, Solana (SOL) has advantages that make it a better option. Although Ethereum (ETH) is the more popular of the two, Solana (SOL) offers significantly lower transaction fees, it is extremely fast and can handle 2,000 transactions every second. It uses a combination of the Proof-of-Stake (PoS) and Proof-of-History (PoH) to reach consensus and just like the Ethereum blockchain, the Solana blockchain allows users to run smart contracts or develop Decentralized Applications (dApps).

Everything Solana (SOL) offers has made crypto users give it the “Ethereum Killer” moniker which is a name given to cryptocurrencies similar to Ethereum (ETH) but with features that make them better.

Stellar (XLM) is at the Forefront of Financial Inclusion

Stellar (XLM) is the native cryptocurrency of the Stellar blockchain and decentralized payment network. Stellar (XLM) is also called Stellar Lumen or Lumen and it was launched in 2015 by Ripple (XRP) co-founder Jed McCaleb. His goal was to promote financial inclusion by building a single network that would house different financial systems and provide users with one simple and easy-to-use platform. The Stellar blockchain also supports NFT minting and smart contracts and it is open source.

To reach consensus, the Stellar blockchain uses the Stellar Consensus Protocol (SCP) which was designed based on the Federated Byzantine Agreement (FBA) and it works by an agreement between trusted nodes on the Stellar network. This unique consensus algorithm allows transactions using Stellar (XLM) tokens to be extremely fast and these transactions cost just 0.00001 XLM.

Big Eyes Coin (BIG)

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

Twitter: https://twitter.com/BigEyesCoin

The crypto industry has seen a bit of a dry spell in 2022, with many cryptos retracing to prices even lower than their all-time lows. Quite a few projects have remained afloat despite the market crash, and there is hope that by 2023, these projects would perform a whole lot better.

The three projects that truly stand out when we talk about prospective gains are Big Eyes Coin (BIG), Hex Coin (HEX), and Flow (FLOW).

Big Eyes Coin Is A Top Contender In The Meme Coin Space

Many meme coins launch without a set goal or aim in mind. They are usually cash grabs by greedy devs looking to exploit unsuspecting users. Big Eyes Coin (BIG) however aims to launch with set goals, exposing its users to better trading terms and features particularly in the DeFi ecosystem.

Big Eyes Coin (BIG) has launched a suite of DeFi applications to ease access to blockchain services. Features like the Big Eyes Swap, Big Eyes NFTs, and the Sushi Club NFT marketplace would empower the Big Eyes community.

BIG would serve as the native token of the project as it would be used to pay gas fees, interact with the DEX and NFT platforms, secure the platform, and financially empower the community. Big Eyes Coin (BIG) is an Ethereum-based Blockchain project, which means it would have a highly secure, scalable, and diversified protocol that would serve to increase the market value of the BIG tokens.

Hex Coin Is A High-Interest Certificate Of Deposit

Hex Coin (HEX) has proven to be one of the most successful cryptos, launching as the industry’s first high-interest Blockchain certificate of deposit. This has brought an element of decentralization to an otherwise centralized financial process, as banks can be sidelined in favor of a more secure and efficient Blockchain solution.

Hex Coin (HEX) was launched on the Ethereum chain, but Ethereum only serves as the transactional layer of the protocol, with Ethereum miners incentivized with small amounts of Ethereum to process transactions. Consensus is retained by the Hex Chain, and by this, the Hex protocol combines a proof-of-work and proof-of-stake system to ensure security and scalability.

Hex Coin (HEX) users are open to many opportunities within the Hex protocol as they have access to staking pool charts with information on staking durations which could guide user decisions on which staking pools to join.

Flow Is Powering The NFT Industry

The NFT buzz in recent times has seen the development of many NFT projects. There is great promise for this technology as it uses blockchain to validate ownership and non-fungibility. Flow (FLOW) was created to deal with the problem of an overly saturated NFT market by providing a blockchain for their operation.

Created by Dapper labs, Flow (FLOW) was built to support dApp development, blockchain games, and digital assets in a bid to revolutionize the world of decentralized financial solutions.

Flow (FLOW) has made a huge success as it is a highly decentralized and scalable platform, employing a split node system to delegate different operational parts of the protocol to specific nodes to make the protocol more efficient.

There is no doubt that 2023 holds great promise for the crypto market, particularly for projects like Big Eyes Coin (BIG), Hex Coin (HEX), and Flow Crypto (FLOW). With the market at a momentary low, the time to get in on the action is now. Additionally, Big Eyes Coin (BIG) offers 5% bonus tokens for those who purchase using the ‘BEYES5514’ code at the checkout!

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Website: https://bigeyes.space/

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It is no news that the cryptocurrency industry is currently experiencing a tough period. Since crypto markets crashed alongside global financial markets in the summer, the industry has been plunged into a long and enduring bear market that does not appear to be coming to an end anytime soon. The effects have been catastrophic, especially for crypto regulars such as traders and investors. The bear market’s presence means an extreme level of market volatility and negative crypto prices that result in difficulty in completing popular crypto operations like trading and investing, thus resulting in losses. To remedy the situation, crypto regulars are exploring various strategies to ensure their businesses security and safety.

One such strategy is long-term cryptocurrency investing. It is a strategy that allows cryptocurrency to vest for an extended period and accumulate massive profits in the process and is an ideal counter in the current climate. Since the chances of success of a long-term cryptocurrency investment depend entirely on the cryptocurrency, this piece discusses three up-and-coming cryptocurrencies that could have massive returns amid the ongoing bear market. Here’s why you should invest in Near Protocol (NEAR), Chainlink (LINK) and Dogeliens Token (DOGET).

Near Protocol (NEAR) The Layer One Blockchain

Near Protocol (NEAR) is a layer-one blockchain platform within the cryptocurrency industry notable for providing feasible solutions to several problems that older systems have been battling, particularly transaction speeds, scalability and interoperability. Its design allows it to operate as a community-run cloud computing platform with impressive speeds and performance levels. Within the industry, Near Protocol (NEAR) is notable for being an ideal environment for creating and deploying Decentralized Applications (dApps).

Its native cryptocurrency, NEAR, facilitates several operations within its ecosystem, such as network governance and payment fees. It also incentivizes the Near Protocol ecosystem and is an ideal cryptocurrency for day-to-day activities within the industry. NEAR is a highly sought-after cryptocurrency with stocks on prominent crypto platforms within the industry.

Chainlink (LINK) The Notable Blockchain

Chainlink (LINK) is a notable blockchain abstraction layer within the cryptocurrency industry. It is a platform that enables universally connected smart contracts through a decentralized oracle network and allows blockchain networks to securely interact with external data feeds, events and payment methods. As one of the few blockchain networks providing feasible solutions to the interoperability problem, Chainlink (LINK) has become very popular within the industry. Asides facilitating interoperability, Chainlink (LINK) also allows the integration of off-chain data into smart contracts.

Its native cryptocurrency, LINK, is an integral part of its ecosystem and is responsible for incentivizing the network and facilitating several crypto operations, such as network governance and payment fees. LINK is a popular cryptocurrency within the industry with stocks on prominent crypto platforms.

Dogeliens Token (DOGET) The New Meme Coin

Dogeliens Token (DOGET) is an upcoming meme currency within the industry that seeks to significantly impact the meme coin sector with various use cases and real-life applications. The token possesses Decentralized Finance (De-Fi) features that make it ideal for several De-Fi operations, such as staking and earning. As a meme coin, it seeks to carry on the work that industry-leading meme coins, such as Dogecoin (DOGE) and Shiba Inu (SHIB), have begun within the industry.

Interest in the Dogeliens Token (DOGET) stems from its massive supply and low transaction costs. Within the current climate, the token is emerging as a suitable option for long-term cryptocurrency investments that struggling investors should consider. For more information on the Dogeliens Token (DOGET) click the links below.

Dogeliens (DOGET)

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Website: https://dogeliens.io/

Telegram: https://t.me/DogeliensOfficial