In a bid to position Nigeria’s solid minerals sector as a global competitor and diversify the country’s economy, the Minister of Solid Minerals Development, Dr. Oladele Alake, led a delegation on a courtesy visit to the Commonwealth Secretariat.
During the visit, profitable prospects for deep sea mining in Nigeria’s coastal waters took center stage in the presentation by the Commonwealth Secretariat.
President Bola Ahmed Tinubu has identified the solid minerals sector as a crucial pillar of Nigeria’s ongoing efforts to diversify the economy. As part of this vision, the Ministry of Solid Minerals Development has developed a seven point agenda, which includes the establishment of a solid minerals company, the gathering of Big Data on mineral reserves to de-risk investments, improved security measures to ensure the safety of mines, and the socio-economic development of mining communities through effective community development agreements.
Recognising the Commonwealth’s expertise in mineral development, Alake requested the institution’s support for Nigeria’s efforts. Nigeria, being a former British colony, is a member of the 54-member Commonwealth.
In response, the Senior Director of the Trade, Oceans and Natural Resources Department at the Commonwealth Secretariat, Paul Kautoke, commended the Nigerian delegation for their visit. He highlighted the potential for Nigeria, as a coastal country, to explore the profitable prospects of deep sea mining, including the extraction of minerals such as copper, cobalt, nickel, gold, and rare earth elements.
Kautoke also noted that several Commonwealth countries in the Pacific region have made significant progress in the deep sea mining sub-sector. He assured the delegation that the Commonwealth could assist in developing a policy framework for Nigeria’s deep sea mining endeavours.
During the forum, other officials from the Commonwealth Secretariat, including Director of Natural Resources, Victor Kitange, Trade and Investment Adviser, Opeyemi Abebe, Economic Adviser for Trade, Ocean, and Natural Resources Daniel Wilder, and Ocean Governance Adviser, Allison Swaddling, expressed concerns about African countries lagging behind in deep sea mining. They highlighted the availability of online training programmes and offered assistance to Nigeria in building capacity for deep sea mining.
In response, Minister Alake welcomed the new dimension brought by the discussion and pledged to collaborate with other ministries to study the concept of deep sea mining further. He assured the forum that the Ministry of Solid Minerals Development would compile a comprehensive country proposal for consideration.
With the support of the Commonwealth Secretariat, Nigeria aims to tap into the vast potential of deep sea mining, contributing to the country’s economic diversification and growth.
