The Commonwealth Pledges Support for Nigeria’s Deep Sea Mining Ambitions

Nigeria is embarking on a significant endeavour to explore the potential of deep sea mining in its coastal waters, with the backing of the Commonwealth secretariat.

In a recent meeting at the secretariat, Dele Alake, the minister of solid minerals development, conveyed Nigeria’s strong interest in seeking international assistance to advance the country’s solid minerals sector, including deep sea mining. This initiative aligns with President Bola Tinubu’s agenda to diversify the economy, with Alake underscoring the pivotal role that solid minerals will play in achieving this objective.

Paul Kautoke, the Commonwealth senior director of the trade, oceans, and natural resources department, commended Nigeria’s interest in deep sea mining, underscoring the potential for extracting valuable minerals such as copper, cobalt, nickel, gold, and rare earth elements. Kautoke pledged the Commonwealth’s support to assist Nigeria in creating a policy framework for this emerging sector, enabling the country to catch up with the progress made by other member countries in the Pacific region.

In response, Alake welcomed the Commonwealth’s support and expressed the government’s readiness to collaborate with pertinent ministries to explore the potential of this new venture. He also announced plans for the ministry to develop a country proposal for further consideration.

Following a recent cabinet reshuffle, President Tinubu appointed Adegboyega Oyetola to oversee the marine and blue economy. With experts predicting that the blue economy has the potential to significantly increase Nigeria’s annual revenue if necessary measures are taken to address existing gaps, this move represents a significant development in the country’s efforts to harness its maritime resources.

The promise of Commonwealth support for Nigeria’s deep sea mining ambitions is an encouraging indication that the country is on the right path towards diversifying its economy and leveraging its natural resources for sustainable development. With the backing of the Commonwealth, Nigeria can anticipate establishing a strong foundation for the exploration and eventual extraction of valuable minerals from its coastal waters. This initiative is in line with the global trend towards sustainable and responsible marine resource management, and Nigeria has the opportunity to position itself as a leader in this emerging sector.

It is crucial for Nigeria to proceed with caution in its deep sea mining endeavours, ensuring that environmental and social implications are thoroughly evaluated and guidelines for responsible mining practices are implemented. With the support of the Commonwealth, Nigeria has the potential to become a significant player in the global deep sea mining industry, contributing to both its economic growth and the sustainable management of its marine resources.