Analysis
Mining production goes up
There are indications that mining activities that went down drastically last year have gradually begun to pick up.
Available data from the Central Bank of Nigeria, CBN, shows that the mining sector is gradually picking the beginning of 1987 when compared to the production level at the end of the last quarter of 1986.
Cassiterite production level rose from 15 tonnes in December 1986 to 19 tonnes in January 1987 and rose further to 20 tonnes in February. Columbite however has no production of commercial value in the period under review.
Lime stone production on the other hand rose from 54,063 tonnes in December 1986 to 80,217 tonnes in January 1987 and further rose t 107,749 tonnes in February.
Tin Metal production dropped drastically from 60 tonnes in December last year to 2 tonnes in January 1987 and moved up to 10 tonnes in February.
Coal production level increased from 9,117 tonnes in December last year to 12,937 tonnes in January 1987 and increased further to 14,217 tonnes.
The January and February 1987 figures when matched with the same period of 1986 shows a remarkable improvement while the production level of cassiterite stood at 12 tonnes and 6 tonnes in the months of January and February 1986 respectively
-
Stock Market22 hours agoNigerian equities market closed on a bullish note, marginal fall in average yield
-
Oil and Gas22 hours agoOil prices fall 2% on hopes for US-Iran conflict easing
-
News2 days agoFG targets global lead in extractive sector transparency
-
Finance22 hours agoCurrency outside Nigerian banking system drops to N4.92trn in June
-
News22 hours agoParis Club Refund: ALGON, LGAs urge court to dismiss lawyer’s suit
-
News2 days agoAMCON props up NTEL as divestment process begins
-
Oil and Gas2 days agoOil prices near one-week low after US, Iran pause fighting over weekend
-
News2 days agoCardoso, Okonjo-Iweala to headline 7th Africa emerging markets forum in Abuja
