07/09/2016 · 18. 18 | P a g e Chapter 1 – The Industry Today Overview Mining in Nigeria is at crossroads. Today the sector accounts for % of national employment, % of exports, and about N400B of Nigeria's GDP (~%), a significant decline from the early 1980s when the contribution was much larger (in percentage terms).
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· Oil Mining Lease (OML) This type of license is granted to an applicant for fullscale commercial production of oil and gas in an area, it grants the holder the exclusive rights to explore, prospect, produce and operate market activities for 20 years.
28/08/2021 · An Equipment Lease Agreement is an agreement where the owner of an equipment permits another to use the equipment in exchange for a periodic lease owner of the equipment is the lessor, the user of the equipment is the lessee. An equipment that can be leased includes any physical property such as vehicles, machinery and other tangible properties.
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AARD Mining Equipment (Pty) Ltd (AARD), a South African company, has been associated with mining capital equipment for over 30 years. AARD emerged from the Boart Longyear group – responsible for designing and manufacturing its first hydraulic rock drill in the early 1980s. Under the management of an experienced team, AARD has built a ...
Hitherto equipment leasing was essentially governed by common law and equitable principles while the accounting, taxation and financial aspects of leasing were regulated by accounting and taxation laws and regulations in addition to guidelines issued by the Central Bank of Nigeria. 1 The Equipment Leasing Bill was passed into law in May 2015 after receiving the assent of the President of the ...
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