Nigeria Explores Deep Sea Mining with Commonwealth Support
The Minister of Solid Minerals Development in Nigeria, Dele Alake, recently led a delegation to the Commonwealth Secretariat to discuss the potential for deep sea mining in Nigeria’s coastal waters. The purpose of the meeting was to investigate avenues through which the Commonwealth could provide assistance to Nigeria in the development of its solid minerals sector and the exploration of the profitable opportunities presented by deep sea mining.
During the discussions, Minister Alake emphasised President Bola Ahmed Tinubu’s vision of the solid minerals sector as a crucial player in Nigeria’s efforts towards diversification. He articulated that the ministry has formulated a seven-point agenda that centres on the establishment of a solid minerals company, the de-risking of investments by gathering extensive data on mineral reserves, the enhancement of security in mining areas, and the promotion of socio-economic development in mining communities through effective community development agreements.
In response, the Commonwealth delegation acknowledged Nigeria’s potential as a coastal nation to engage in the extraction of deep sea minerals such as copper, cobalt, nickel, gold, and rare earth elements. They also highlighted successful deep sea mining initiatives undertaken by other Commonwealth countries, particularly in the Pacific region, and expressed a readiness to support Nigeria in establishing a policy framework for deep sea mining.
Members of the Commonwealth Secretariat, including senior officials, underscored the advancements in deep sea mining and expressed concerns about African countries falling behind in this sector. Additionally, they offered assistance in the form of online training programmes and capacity building to aid Nigeria in making progress in deep sea mining.
In response to the discussions, Minister Alake provided assurance that the ministry would meticulously examine the potential of deep sea mining, collaborate with other relevant ministries, and formulate a comprehensive proposal for consideration.
This dialogue between Nigeria and the Commonwealth presents new opportunities for the nation to leverage its natural resources and enhance its position in the global mining industry. With the backing of the Commonwealth, Nigeria could potentially establish itself as a key player in deep sea mining, thereby contributing to the diversification of its economy and the overall development of the solid minerals sector.
As a former British colony and a member of the 54-member Commonwealth, Nigeria stands to benefit from the wealth of expertise and resources offered by the institution.
In conclusion, the discussions between the Nigerian delegation and the Commonwealth Secretariat mark a significant advancement in harnessing the potential of deep sea mining in Nigeria. Through continued collaboration and support from the Commonwealth, Nigeria’s solid minerals sector could undergo a transformative boost that will be advantageous for the nation and its citizens.
