The Commonwealth’s Commitment to Supporting Nigeria in the Development of Solid Minerals
The Commonwealth has extended its willingness to provide assistance to Nigeria in formulating a policy framework for the solid mineral sector, offering the potential for Nigeria to make significant progress in line with other member countries in the Pacific region. This announcement was made during a courtesy visit by Dele Alake, the Minister of Solid Minerals Development, to officials at the Commonwealth Secretariat, where Senior Director of the Trade, Oceans, and Natural Resources Department, Paul Kautoke, conveyed the message. A statement detailing the discussions was released yesterday by the minister’s aide, Kehinde Bamigbetan.
Kautoke also commended Nigeria’s interest in deep sea mining, expressing that it holds potential for the extraction of valuable minerals, including copper, cobalt, nickel, gold, and rare earth elements. In response, Minister Alake welcomed the Commonwealth’s support and affirmed that the government would explore the potential of this new venture in collaboration with relevant ministries. He also indicated that the ministry would be preparing a country proposal for further consideration.
Nigeria is actively exploring the potential of deep sea mining in its coastal waters, and the government is eager to mobilise international assistance to develop the country’s solid minerals sector. This aligns with President Bola Tinubu’s efforts to diversify the economy, with solid minerals poised to play a pivotal role in achieving this goal.
The commitment from the Commonwealth to provide support for Nigeria’s solid minerals sector is a significant step towards harnessing the country’s natural resources. With the potential for deep sea mining on the horizon, it is imperative for Nigeria to leverage international assistance and collaboration to ensure that the sector reaches its full potential. The development of a policy framework, in partnership with the Commonwealth, will be crucial in capitalising on the opportunities presented by the solid minerals sector.
As Nigeria continues its journey towards economic diversification, the collaboration with the Commonwealth sets a positive precedent for international cooperation in sustainable natural resource development. The commitment to explore deep sea mining highlights a progressive approach towards utilising the country’s mineral resources for economic growth and development. The contribution of the Commonwealth will undoubtedly aid Nigeria in realising its vision for a thriving solid minerals sector.
In conclusion, the Commonwealth’s pledge to support Nigeria in the development of its solid minerals sector is a testament to the potential that lies within the country’s natural resources. The collaborative efforts between Nigeria and the Commonwealth will undoubtedly pave the way for sustainable and inclusive development in the solid minerals sector, ultimately contributing to the diversification of Nigeria’s economy.
