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English: This chart shows the nominal price of gold along with the price in 1971 and 2011 dollars (adjusted based on the consumer price index). The historical gold price was obtained from www.igolder.com; CPI was obtained from www.rateinflation.com. The data is in section Chart Data.
Gold mines were active before World War II, extracting from crystalline basement rock in the northwest, but a combination of low gold prices and legal turmoil ended the industry, recently the demand for gold has gone up due its high prices and Gold can be found in commercial quantity in states like Osun, Zamfara and Cross River states in Nigeria.
The Nigeria Uranium Mining Company (NUMCO) was a parastatal organization that controlled the exploration and mining of uranium in Nigeria and was a public/private partnership with Total Compagnie Minière of France, which owned 40% of the company. In 1989, Total pulled out of the partnership, and in 1993 the government reassigned NUMCO's ...
Nairametrics is a Nigerian online newspaper that focuses on business and economic current affairs. It was established in 2013 by Obi-Chukwu Ugodre as a product of Nairametrics Financial Advocates Limited.
The Niger gold mine collapse occurred on 7 November 2021 when a manually dug well collapsed at the Garin-Liman mining area of Maradi region, Niger. [1] The day of the mine disaster left 18 people dead on the spot, 7 injured and hospitalised, and dozens of miners buried underground waiting to be rescued.
Nigeria's inflation rate rose to 15.63 per cent in December 2021 compared to 15.40 per cent in November, the National Bureau of Statistics announced on January 17, 2022. The statistics office said the prices of goods and services, measured by the Consumer Price Index, increased by 15.63 per cent in December 2021 when compared to December 2020.
Gold price history in 1960–2014. When the inflation adjusted gold value is examined, gold is not an inflation hedge but crisis hedge. [5] [6] Some times, gold price apparently looks lower in US$ value but its price compared to corresponding crude oil price can be exceeding 25 times far higher than long term average of 15 times. [7]
The history of the territories which since ca. 1900 have been known under the name of Nigeria during the pre-colonial period (16th to 18th centuries) was dominated by several powerful West African kingdoms or empires, such as the Oyo Empire and the Islamic Kanem-Bornu Empire in the northeast, and the Igbo kingdom of Onitsha in the southeast and ...