Nigeria Enters Partnership with the United Kingdom for Mineral Development
The Nigerian Government has recently announced its partnership with the United Kingdom to establish a joint technical working group focused on the development of critical mineral deposits within the country. This collaborative effort was revealed by the Minister of Solid Minerals Development, Dele Alake, as released in a statement by his Special Assistant on Media, Segun Tomori, in Abuja.
The partnership was formalized following a meeting between Alake and the UK Deputy Prime Minister, Oliver Dowden, during the Mines and Money conference in London in December of last year. A delegation from the British High Commission, led by Deputy High Commissioner Johnny Baxter, visited the Minister of Solid Minerals Development to discuss the finer details of the collaboration.
Minister Alake expressed his enthusiasm for the partnership, highlighting its potential to attract investments in the mining sector value chain. The government, under President Bola Tinubu’s leadership, aims to facilitate an improved ease of doing business in the mining sector. Plans are underway to establish a new security architecture for natural resources, as well as to create a Nigerian Mining Corporation that will be spearheaded by the private sector.
Furthermore, the Minister affirmed the government’s dedication to revamping the mining sector, with a focus on enhancing its capabilities to significantly contribute to the nation’s revenue. The objective is to establish a more efficient governance structure and overhaul the sector, ensuring that it operates in a transparent and sustainable manner.
This collaboration signifies a pivotal step for Nigeria, as it seeks to harness and develop its mineral resources with the expertise and support of the United Kingdom. The joint technical working group is anticipated to drive innovation, investment, and sustainable growth within the Nigerian mining sector.
The Nigerian Government’s initiative to form strategic partnerships with international allies for the development of its natural resources underscores the country’s commitment to fostering economic growth and stability. This collaboration with the United Kingdom is poised to elevate the mining sector, positioning Nigeria as a competitive player in the global market for critical minerals.
