Tinubu’s Commitment to Economic Diversification through Solid Minerals Industry – Insights from Minister Alake
The Honourable Minister of Solid Minerals Development, Dr Dele Alake, has conveyed President Bola Tinubu’s strong commitment to advancing the solid minerals sector as a pivotal element of Nigeria’s ongoing endeavours to diversify the economy. During a visit to the Commonwealth Secretariat in the United Kingdom, Alake deliberated on the potential for deep sea mining in Nigeria’s coastal waters, underscoring the government’s focus on capitalising on the country’s mineral resources for economic progress.
According to a statement issued in Abuja and endorsed by Alake’s Special Adviser, Mr Kehinde Bamigbetan, the ministry has formulated a comprehensive seven-point agenda aimed at strengthening the solid minerals industry. This agenda encompasses initiatives such as the establishment of a dedicated solid minerals company and the implementation of measures to ensure the safety of mining operations through the collection of extensive data on mineral reserves.
Furthermore, Alake stressed the significance of prioritising the socio-economic development of mining communities through effective community development agreements. Acknowledging the potential for deep-sea mining, he appealed for support from the Commonwealth to reinforce the government’s initiatives in this realm.
During the visit, the Commonwealth’s Senior Director of Trade, Oceans, and Natural Resources Department, Mr Paul Kautoke, lauded the Nigerian delegation for their engagement. Kautoke underscored the importance of Nigeria’s coastal location in exploring the opportunities presented by deep-sea minerals, including copper, cobalt, nickel, gold, and rare earth elements. He also highlighted the progress made by other Commonwealth countries in the Pacific region in the field of deep-sea mining.
As discussions progressed, Kautoke emphasised the Commonwealth’s potential to contribute to the development of a policy framework for Nigeria to navigate the complexities of deep-sea mining. Collaboration and support from the Commonwealth in this area could provide crucial guidance and expertise to ensure that Nigeria harnesses its deep-sea mining potential in a sustainable and responsible manner.
The acknowledgement by Minister Alake of President Tinubu’s strategic focus on the solid minerals sector as a catalyst for economic diversification underscores the government’s dedication to unlocking the full potential of Nigeria’s mineral resources. With a clear agenda in place and aspirations for deep-sea mining on the horizon, Nigeria is positioned to lead meaningful advancements in the solid minerals industry.
In conclusion, the government’s proactive engagement with international stakeholders such as the Commonwealth presents a valuable opportunity to leverage global expertise and best practices in the development of the solid minerals sector. By strengthening collaboration and seeking support from respected international organisations, Nigeria is paving the way for sustainable economic growth and development through the strategic management of its mineral wealth.
