Nigeria and United Kingdom Collaborate on Minerals Development
Article Rewrite:
Nigeria Forges Strategic Partnership with United Kingdom to Develop Mineral Resources
By Hauwa Gidado, Correspondent, Abuja
Nigeria has embarked on a collaborative endeavour with the United Kingdom to harness and develop its critical mineral deposits. This partnership aims to establish a joint technical working group dedicated to the advancement of mineral resources within Nigeria.
The announcement of this alliance was disclosed by Dr. Oladele Alake, the Minister of Solid Minerals Development, following a meeting with a delegation from the British High Commission, headed by Deputy High Commissioner Johnny Baxter, in Abuja, the capital of Nigeria.
Dr. Alake highlighted that the primary objective of this collaboration is to attract investments into the mining sector value chain. Furthermore, he emphasized the administration’s commitment, under President Bola Tinubu, to enhance the ease of doing business within the mining sector. This will be achieved through the implementation of new security infrastructure for natural resource protection. Additionally, the administration is focused on establishing a robust governance framework, which will involve the creation of a Nigerian Mining Corporation led by private sector entities.
The Minister reiterated the government’s dedication to revamping the mining sector, with the ultimate goal of significantly boosting its contribution to the nation’s revenue. This strategic move is aimed at reducing the dependency on the oil sector and fostering increased competition between the mining and oil sectors in terms of their contributions to Nigeria’s Gross Domestic Product.
It is noteworthy that this partnership stems from a previous meeting between Dr. Alake and the UK Deputy Prime Minister, Oliver Dowden, which took place on the sidelines of the Mines and Money conference held in London in December 2023.
This collaboration holds significant promise for the mining sector in Nigeria, offering potential opportunities for growth and development. By leveraging the expertise and resources of the United Kingdom, Nigeria’s mineral resources can be harnessed to their full potential, ultimately driving economic advancement and diversification.
As this partnership takes shape, it is poised to yield fruitful results that will be mutually beneficial for both nations. The collective efforts of Nigeria and the United Kingdom in this venture are set to pave the way for a new era of advancement and prosperity in the realm of mineral development.
