Nigeria’s Minister of Solid Minerals, Dr. Dele Alake, met US Charge d’Affairs David Greene to discuss strategic partnerships in the mining sector. Alake highlighted Nigeria’s goal to diversify from oil through mining, focusing on reforms, technology access, and foreign investment. The US is interested in collaborating to harness Nigeria’s mineral potential, contributing to the global energy transition.
Dr. Dele Alake, Nigeria’s Minister of Solid Minerals Development, has acknowledged the United States as a vital ally in advancing Nigeria’s mining sector. During a meeting with David Greene, the US Embassy’s Charge d’Affairs, Alake praised the US for its commitment to enhancing cooperation in various economic areas, particularly mining. He stated that Nigeria seeks to diversify its economy beyond oil to align with global trends aimed at reducing greenhouse gas emissions and to boost the global standing of its mining sector, which is rich in critical minerals. Alake highlighted government reforms such as new guidelines to improve community relations, enhanced security measures, and initiatives to formalise small-scale miners into cooperatives. He expressed the need for investment in the mining value chain, technology access, and incentives, including tax benefits and policies encouraging profit repatriation for foreign investors. The US Ambassador echoed this sentiment, recognising Nigeria’s potential to rival its oil economy through solid minerals. He affirmed the commitment to invest in the extraction and processing of minerals while providing training for security agencies to protect mining operations.
The Nigerian government is focusing on revitalising its mining sector to reduce dependence on oil revenue. This focus includes attracting foreign investment and fostering international partnerships, particularly with established economies like the United States, which has a rich history of cooperation in various sectors with Nigeria. The need for sustainable practices in mining operations is also becoming increasingly important, reflecting global efforts to mitigate climate change.
The dialogue between Nigeria and the US marks a significant step towards a collaborative effort in developing Nigeria’s mining sector. By leveraging US expertise and investing in technology and security, Nigeria aims to enhance its mining productivity and global competitiveness while transitioning towards a more diversified economy.
Original Source: www.thisdaylive.com