Emmanuel OchayiThe Minister of Solid Minerals Development, Dele Alake unveils plans for collaborative financing talks with the U.S. government to bolster Nigeria’s mining sector and critical infrastructure.
Speaking directly on the initiative, Alake stated, “Our discussion with Geoffrey Pratt, the United States Assistant Secretary for Energy and Natural Resources, resulted in a significant decision to form a joint team aimed at exploring financing options for mining firms and infrastructure. This partnership promises mutual benefits, including increased foreign direct investment vital for growth in our energy and mineral sectors.”
Join our WhatsApp ChannelThe proposal, unveiled during the Mines & Money conference in London, highlights a moment in Nigeria’s efforts to attract foreign investment.
READ ALSO: Illegal mining in Akwa Ibom State
Alake emphasized the need for an extensive approach, encompassing the establishment of a new Solid Minerals Development Company, heightened security measures for mining operations, and robust data generation to mitigate risks in the sector.
On the U.S. side, Pratt confirmed their interest in becoming Nigeria’s preferred partner in solid minerals sector development. Expressing enthusiasm for the reforms proposed by Alake, Pratt highlighted the significance of minerals like lithium in the global clean energy movement and electric car production.
“We’re eager to collaborate with Nigerian counterparts to establish a framework for this partnership,” Pratt stated, underscoring the U.S.’s commitment to leveraging its institutions and laws to encourage direct foreign investment.
The Minister’s proactive steps in seeking international collaboration have sparked optimism about Nigeria’s potential to revitalize its mining sector, signaling a promising avenue for economic growth and enhanced global partnerships.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
Follow Us