The Growing Partnership Between Nigeria and the United States in Mining Development
Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, has articulated the significance of the United States as a crucial partner in the growth and advancement of the nation’s mining sector. In a statement released by the Special Assistant to the minister on Media, Mr Segun Tomori in Abuja, Dr. Alake underscored the strategic cooperation between the two countries in various areas of the economy, emphasizing the importance of maintaining robust bilateral relations.
During a meeting with the Charge d’Affairs of the US Embassy, David Greene, Dr. Alake welcomed the partnership with the US in the development of the mining value chain, with a focus on expanding technology access for mineral extraction and processing, as well as ensuring the security of mining areas. He also highlighted the reforms implemented by the Federal Government, including revised Community Development Agreement guidelines, plans for enhanced security measures, efforts to generate significant geo-data, and the formalization of artisanal miners into cooperatives.
Dr. Alake stressed the potential for increased trade between Nigeria and the United States in the mining sector, particularly in the area of value addition through mineral processing and the establishment of local factories. He also mentioned the need for financing from multilateral institutions for Nigerian operators, and outlined incentives for investments such as tax waivers for mining equipment and policies supporting the repatriation of profits to home countries.
In response, the US Ambassador acknowledged Nigeria’s renewed focus on solid minerals, underscoring the sector’s significant potential for the nation’s economy, akin to that of the oil industry. He praised the longstanding cultural and cooperative ties between Nigeria and the United States, citing collaboration in areas ranging from security to agriculture. The US Ambassador also expressed keen interest in investing in Nigeria’s mining value chain, providing training and knowledge transfer to security agencies to enhance the safety of mining environments.
Furthermore, the US diplomat highlighted the global transition from fossil fuels to critical metals, emphasizing the need for both nations to harness their comparative advantages for strategic collaboration in the mining sector.
The growing partnership between Nigeria and the United States in mining development underscores the mutual benefits of cooperation and collaboration in the global economic landscape. As both countries explore new avenues for investment and technological advancements, the potential for sustainable growth in the mining sector remains promising.
Rabi Momoh’s insightful reporting and Daniel Adejo’s editing have shed light on this significant development, highlighting the importance of international partnerships in advancing Nigeria’s mining industry.
