The Federal Government of Nigeria is set to collaborate with the United Kingdom in the establishment of a joint technical working group focused on the development of critical mineral deposits in Nigeria.
Dr. the Minister of Solid Minerals Development, disclosed this partnership, highlighting its aim to attract investments into the mining sector’s value chain.
The collaboration stems from a meeting between Minister Alake and UK Deputy Prime Minister Oliver Dowden, held on the sidelines of the Mines and Money conference in London in December 2023.
To finalize the details of this significant partnership, a delegation from the British High Commission, led by Deputy High Commissioner Johnny Baxter, visited the Minister of Solid Minerals Development.
Minister Alake expressed the government’s commitment, under President Bola Tinubu’s administration, to enhance the ease of doing business in the mining sector.
The focus includes establishing a new security architecture for natural resources and creating a Nigerian Mining Corporation led by the private sector, as part of an efficient governance structure.
The overarching goal is to revitalize and reposition the mining sector, fostering increased contributions to the nation’s revenue. Minister Alake emphasized that these efforts align with the government’s strategy to diversify the economy, reduce dependence on the oil sector, and enable the mining industry to compete favorably in contributing to Nigeria’s Gross Domestic Product (GDP).
