Generally, the new mineral sector reform strategy aims to i) increase the Government's long-term institutional and technical capacity to manage Nigeria's mineral resources in a sustainable way and ii) to establish a basis for poverty reduction and rural economic renewal in selected areas of the country via the development of non-farm income generating opportunities associated with mining. In order to achieve these goals and to allow the private sector to take a pivotal role in the growth of the mining sector the government has established a stable regulatory, economic and political environment to encourage foreign investors to make long-term commitments to exploration and mine development.

The new mining and mineral act was passed by the parliament in 2007. It clearly defines the Mining Cadastre Office as an autonomous body being responsible for:

  1. Management for mining titles/rights on a "first come, first served" basis
  2. Protection of legal rights of domestic and international investors
  3. Security of tenure of titles/rights
  4. Application of the principle of "use it or lose it" to mining title/rights administration
  5. Use of time limits for granting titles