Business Segment: Nigeria Minister Alake Seeks N200bn For Mining Data Gathering
Business Segment: Nigeria Minister Alake Seeks N200bn For Mining Data Gathering
Nigeria’s Minister of Solid Minerals, Dele Alake, said his Ministry requested N200 billion from the 2024 budget for “Data gathering” which he said is part of his 7-point agenda to transform his Ministry. This was part of day 1 of the sectoral ministerial updates from some Ministers to mark the first year of the Bola Ahmed Tinubu administration…
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Geological data plays a vital role in the mining industry, serving as a crucial tool for revenue generation. Here are some ways geological data contributes to revenue generation:
1. *Resource identification and quantification*: Geological data helps identify and quantify mineral resources, enabling companies to determine the economic viability of a project.
2. *Exploration and discovery*: Geological data guides exploration efforts, increasing the chances of discovering new deposits and reducing exploration costs.
3. *Mine planning and optimization*: Geological data informs mine planning, allowing for optimized extraction and processing, and maximizing revenue from mineral resources.
4. *Risk reduction*: Geological data helps identify potential geological hazards and environmental risks, reducing the likelihood of costly accidents and environmental damage.
5. *Compliance and regulatory reporting*: Geological data is essential for compliance with mining regulations and reporting requirements, avoiding fines and reputational damage.
6. *Investment and funding*: Geological data is critical for attracting investment and securing funding, as it provides a comprehensive understanding of the mineral resource and potential revenue streams.
7. *Marketing and sales*: Geological data supports marketing and sales efforts, providing valuable information for customers and helping to establish a competitive advantage.
8. *Environmental monitoring and rehabilitation*: Geological data informs environmental monitoring and rehabilitation efforts, reducing costs associated with environmental damage and rehabilitation.
9. *Research and development*: Geological data drives research and development, enabling the discovery of new mineral resources and improvement of extraction and processing techniques.
10. *Government revenue*: Geological data helps governments track and manage mineral resources, generating revenue through taxes, royalties, and other mechanisms.
In summary, geological data is a critical tool for revenue generation in the mining industry, supporting exploration, mine planning, risk reduction, compliance, investment, marketing, environmental monitoring, research, and government revenue.
Why is everyone mentioning Ahmed Tinubu in the beginning, middle or closing parts of every sentence they make. What kind of cult is this for God sake
Just look at the people in charge of affairs In the country. Empty heads!
This is why i feel bad for all these ronu goats 🐐.. they think all these stolen money will get to them 😂😂
How much will be generated from the mining
How can we know that you're giving the right statistics
Is easy to ask and demand for money
The country Nigeria is a failure. All these said by the ministers are just rubbish. They were there just to squander money into their wallets. This is a failed state of corruption
They have achieved oh, they achieved the release of a hit track titled “Bola on your mandate” which will win Grammys and bring FDI worth billions of $ in revenue to Nigeria
Empty heads.. David called them block heads… the sad part is that people will still vote and support them in 2027…I'm just tired.
Hajj 90billion and now data 200billion , Coastal highway , and. Now Ajeokuta and Russians.
200 billion will established a Nigerian indigenous Mining Company data collection
He wants to cash out
The youth minister has zero confidence.
Not good enough for the ministry as that's a huge ministry. The Civil servants for that ministry go use her shine well well. We need a competent hand in that ministry, she could be stepped down to the minister of state,she needs to work under a more experienced hand.
The 9 deliverables which she mentioned,none has been delivered yet.
Listen Nigerians! This administration only wanted to get into power to fulfil the personal ambition of Tinubu. They never had a well thought out plan that will integrate all these ministries to deliver a strategic direction to pull out the country from this mess their party has put us in the first place. Regardless of political affinity we want Nigeria to succeed but this is absolutely shambolic by this administration.
I'm sure this is song these guys vibe to.. 🎶🎼Ṣo ni CC.. Load am…Cash app… Cash out.. O ni maga… Bill am🎵
200 billion naira for data collection. Let that sink in. After this administration Nigeria will know what it means to be ruled by criminal. Total state capture
Another looting and stealing looting loading.Lord Jesus deliver Nigeria and Nigerians from this overly corrupt party and administration.
😢😢😢😢