"PROMOTING SOCIAL SAFEGUARDS POLICIES IN NIGERIA'S EXTRACTIVE SECTOR, A PANACEA TO NIGERIA'S ECONOMIC DEVELOPMENT".
The Nigeria's extractive sector has contributed immensely to the economic development and the gross domestic product (GDP) of Nigeria for over five decades. All over Nigeria, in different geographical zones, states and local communities in Nigeria abound one or more valuable natural resources and solid minerals, some fully untapped. These rich natural resources has been the economic mainstay of Nigeria's foreign exchange earnings for now. Extractive industries include mining and mineral sectors, natural gas and oil exploration, petroleum refineries, dredging and quarrying for construction resources such as sand, stone and gravel and other natural materials that are obtained by excavation, drilling, boring, or other methods. Nigeria is world's 12th largest producer of oil and the largest in Africa. It also holds the largest natural gas reserves on the continent. The oil and gas sector plays a significant role in the Nigeria's economy, contributing about 65% of government...