The Federal Government of Nigeria and the United Kingdom have reached a mutual agreement to establish a technical working group with the objective of coordinating efforts towards the development of essential mineral deposits in Nigeria.
Following a meeting between UK Deputy Prime Minister, Oliver Dowden, and Nigeria’s Minister of Solid Minerals Development, Dele Alake, during the Mines and Money Conference in London, the UK has expressed its interest in Nigeria’s lithium reserves. This initial discussion led to a subsequent visit by a delegation from the British High Commission (BHC), led by Deputy High Commissioner, Johnny Baxter, to the Ministry of Solid Minerals Development. During this visit, the UK reiterated its commitment to finalizing the details of a collaborative agreement that would ultimately result in investments in Nigeria’s mining sector value chain.
During the visit, Minister Alake highlighted the efforts of the President Bola Tinubu administration in enhancing the ease of doing business in the mining sector, particularly through the implementation of a new security framework for natural resources as well as the establishment of a private sector-led Nigerian Mining Corporation to ensure efficient governance.
The delegation from the British High Commission commended Nigeria’s strides in diversifying its economy. They lauded the minister’s efforts in shining a spotlight on the mining sector, recognizing the significant attention it has garnered from the international community.
Both countries have agreed to establish a joint technical working group with the goal of formalizing their partnership and stimulating investment in Nigeria’s mining sector. The British delegation included Political Counsellor, Tom Burge; Senior Political Adviser, Wale Adebajo; and Trade Market Access Lead, Simeon Umukoro.
The establishment of this joint working group signals a significant step towards strengthening the partnership between Nigeria and the UK in the crucial area of mining development. By working in collaboration, the two countries aim to further harness the potential of Nigeria’s mineral resources and drive sustainable growth in the mining sector.
This collaborative initiative is poised to pave the way for a more robust and efficient framework for the development and utilization of Nigeria’s mineral wealth, in line with global best practices. As partnerships of this nature continue to evolve, they have the potential to significantly impact the economic landscape of nations, harnessing the full potential of domestic resources while fostering mutually beneficial relationships between nations.