Effect of Mining Generated Revenue on the Economic Development of the Niger Delta Region of Nigeria

Abstract

The Niger Delta Region in Nigeria's economy has been a focus of mining companies in recent years, and this has caused economic instability, thus this research looks into the relationship between earnings from mining and Niger Delta's overall growth. The study focused on which factors influence the profits of Mining businesses in Nigeria, and especially looked at how the values of crude petroleum and gas, solid mineral, manufacturing, and agriculture are influencing profit. The research drew information from annual reports and other documents produced by oil companies. According to the findings, the value of crude petroleum and gas (VCPG) has a role in determining the personal income of mining businesses in Nigeria. Per capita income will rise during the duration of the research because of VCPG's positive effect on the two mining businesses. There's a correlation between the value of mineral minerals and mining businesses' per capita income in Nigeria. It follows that VSM has increased the size of the per capita revenue of the companies substantially. The worth of the building has a considerable influence on the income of mining organizations in Nigeria. In addition, we have evidence that the Value of Manufacturing decreases the price of a company's ordinary share throughout the study. The relationship between the value of agriculture and mining business per capita income in Nigeria is negligible. Based on the findings, the researcher recommends that the government develop consistent policy guidance, which will create an enabling environment for the private sector to invest more in mining and help the country with new jobs and greater wealth, among other things.