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    Companies profits in respect of goods exported from Nigeria, are exempt from tax provided the proceeds are repatriated to Nigeria and used exclusively for the purchase of raw materials, plants equipment and spare parts.

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    Mining is the extraction[removal]of minerals and metals from the earth. The Nigerian Coal Corporation (NCC) is a parastatal corporation that was formed in 1950 and held a monopoly on the mining, processing, and sales of coal, lignite, and coke products until 1999.

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    Nigeria, Africa's top crude oil producer, is aiming to diversify its economy by developing other industries such as mining through various incentives.

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