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The statutory conditions for obtaining a Quarry Lease in Nigeria are as follows: The Mining Cadastral Office (MCO), on receipt of a valid application, shall grant and issue to the applicant a Quarry Lease within the 45 days;
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– Quarry Lease: 600,000 naira. Annual Service Fees: – Quarry Lease: 500,000 naira. Late Renewal Penalties: – Quarry Lease: 1,500,000 naira. Reasons for Revision. These price changes are geared toward: – Increasing the operational efficiency of the mining sector. – Better compliance with regulatory standards.
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THE EQUIPMENT LEASING ACT 2015
SYNOPSIS The Equipment Leasing Act has 45 sessions and is essentially aimed at promoting the business of leasing in Nigeria by among other things, creating clarity, certainty and sanity in the practice of leasing and ensuring protective mechanism, for both the lessor and lessee. The Explanatory memorandum of the Act states that "This Act seeks to regulate the business of …
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