| Mining is important for the security and prosperity of Nigeria and towards developing the sector in Nigeria, the recently concluded National Conference, 2014 recommended that the Solid Minerals Development Fund (SMDF) be increased from the present 1.68% to 5%.
Sovereign Investment Authority (Establishment, Etc.) Act, 2011 (NSIA Act), governing Nigeria’s Sovereign Wealth Fund (NSWF); and it should have a maximum timeframe (5- 10 years) within which to accomplish its objectives. It makes sense to consider amending the NSIA Act to make the SMDF part of the NSWF...............................................Full Article: Source |