Exploring Deep Sea Mining: Nigeria in Talks with Commonwealth and Federal Government
The Commonwealth Secretariat has been engaged in discussions with Nigeria to explore the potential benefits of deep sea mining. This initiative was a focal point during a meeting between the Commonwealth Secretariat and a Nigerian delegation led by the Minister of Solid Minerals Development, Dr. Oladele Alake.
In an effort to garner international support and bolster the solid minerals sector for global competition, Minister Alake sought to deliberate on mineral development matters with the Commonwealth. During the forum, he emphasised President Bola Ahmed Tinubu’s recognition of the solid minerals sector as a pivotal component of Nigeria’s economic diversification efforts. This prompted the ministry to devise a Seven-Point Agenda, encompassing the establishment of a solid minerals company, data collection on mineral reserves for investment de-risking, enhanced security measures for mining safety, and the socio-economic advancement of mining communities through effective community development agreements.
Furthermore, Alake urged the Commonwealth, leveraging its extensive expertise, to aid the current administration’s initiatives. Nigeria, being a member of the 54-member Commonwealth, sought to harness the expertise of the Senior Director of Trade, Oceans and Natural Resources Department, Paul Kautoke. As a coastal country, Nigeria could capitalise on the profitable extraction prospects of deep sea minerals, including copper, cobalt, nickel, gold, and rare earth elements. Kautoke highlighted the advancements made by Commonwealth countries in the Pacific region in the field of deep sea mining and pledged to assist in formulating a strategic policy for Nigeria.
Additionally, the Director of Natural Resources, Victor Kitange; Trade and Investment Adviser, Opeyemi Abebe; Economic Adviser on Trade, Ocean and Natural Resources, Daniel Wilder; and Adviser of Ocean Governance, Allison Swaddling, underscored the progress achieved in deep sea mining. They expressed apprehension regarding the underrepresentation of African countries in this sub-sector.
The partnership between the Commonwealth Secretariat and the Nigerian government illustrates a concerted effort to explore and harness the potential of deep sea mining. It is evident that Nigeria’s solid minerals sector has been identified as a catalyst for economic diversification, presenting ample opportunities for collaboration and international support. As discussions progress, it is imperative to develop strategic policies and regulatory frameworks that ensure sustainable and responsible deep sea mining practices. This collaboration aligns with the broader objective of fostering economic growth and development in Nigeria and underscores the significance of international partnerships in realising these aspirations.
