Advantages And Challenges Of The Foreign Exchange Market In The Nigerian Economy

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The local competitors with existing quarries appear to be inefficiently managed with many offering land for operation of a quarry. With the market trend leaning towards solid mineral, this appears to be a good time to enter the market and Nsan Village may have an advantage with the site location, equipment purchase in process and experienced management staff to engage operations and ramp production.

Major Local Competitors

Major competition is small scale mining, government and investors purchasing exclusive rights to carry out mining operation in the title area. Normally a five year least period is applicable and renewable for an additional period of 5 years and in some cases the mining lease may be issued for 10 - 25 year increments. Quarry leasing …show more content…

• Establish Employment Wages that respect Government Standards.

• Ensuring workers are treated fairly and with respect.

• Upholding Proper Standards of Labor Practices.

• Providing Management opportunities for women and equal treatment.

• Provide job growth in Nigeria causing a reduction in the crime rate.

• Working only with Plant, Machinery and Raw Materials Suppliers that are Environmentally responsible.

Benefits to the Economy:

• Create positive attraction from foreign exchange since the Loan Process will be conducted in US Dollars.

• Reduce pressure placed by the Foreign Exchange Market on Nigerian Economy through the Profits of the quarry mining and the production of 400 ton a day.

• Reduce gap of balance of payment between Nigeria and the United States. Support growth and development of proficient Waste Processing Industry by working with local communities to improve production.

• Create professional and trained personnel in the solid mineral industry and possibly provide to exporters an experienced labor force that can be applied in the industry of other Countries.

Benefits to the

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