Who owns the natural resources in Nigeria?

The Constitution of the Federal Republic of Nigeria 1999 (as amended) section 44 (3) and item 39 Schedule II of the Exclusive Legislative List vests the control and management of the natural resources and hydrocarbon operations on the federal government for the common good and benefit of the citizens.

Who owns the country’s natural resources?

When it comes to the natural resources found off the coast, the federal government and state governments split ownership. In general, states have primary authority and natural resource ownership in the three-mile area extending outward from their coasts.

Which natural resource does Nigeria have?

Apart from petroleum, Nigeria’s other natural resources include natural gas, tin, iron ore, coal, limestone, niobium, lead, zinc and arable land. The oil and gas sector accounts for about 10 per cent of gross domestic product, and petroleum exports revenue represents around 86 per cent of total exports revenue.

Which state has the most natural resources in Nigeria?

Mineral Resources Found in Kaduna state

This is one of the few states that has the highest number of natural resources in Nigeria.

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How many resources do Nigeria have?

Nigeria is enriched with over forty (40) types of minerals including marble, gypsum, lithium, silver, granite, gold, gemstones, bentonite, iron ore and talc.

Which country is rich in natural resources?

LIST OF TOP TEN WORLD’S RESOURCE RICH NATIONS STATISTICS:

Sr. No. Country Name TOTAL COST OF NATURAL RESOURCES
1 Russia $75.7 trillions
2 United States $45 trillion
3 Saudi Arabia $34.4 trillions
4 Canada $33.2 trillion

Which country has most resources?

10 Countries With The Most Natural Resources

  • Venezuela.
  • The United States.
  • Brazil.
  • Russia.
  • India.
  • Canada.
  • 2: Saudi Arabia.
  • 1: China.

Why is Nigeria a rich country?

With a GDP just under $450 billion, Nigeria holds the position of the richest country in Africa. The sizeable GDP is mainly driven by finance, transport, infrastructure, tourism, and an abundance of crude oil.

Who controls the oil in Nigeria?

Shell Nigeria owns concessions on four companies, they are: Shell Petroleum Development Company (SPDC), Shell Nigeria Exploration and Production Company (SNEPCO), Shell Nigeria Gas (SNG), Shell Nigeria Oil Products (SNOP), as well as holding a major stake in Nigeria Liquified Natural Gas (NLNG).

Which state is the richest in Nigeria?

Top 10 Richest States In Nigeria (2021)

  • Lagos State – IGR: ₦399 billion. …
  • Ogun State – IGR: ₦71 billion. …
  • Delta state – IGR: ₦65 billion. …
  • Kaduna state – IGR: ₦44 billion. …
  • Kano state – IGR: ₦40 billion. …
  • Akwa Ibom – IGR: ₦32 billion. …
  • Enugu state – IGR: ₦31 billion. …
  • Kwara state- IGR: ₦31 billion.

Is there Diamond in Nigeria?

The Department of Resource Development in Nigeria’s Katsina State recently found diamond and gold deposits in the area. … Nigeria was mainly known for being the leading crude oil producer in Africa.

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What is the most important natural resource?

1. Water. Like soil, water is one of the most important natural resources for the existence of life.

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