FG Targets Deep Seabed Exploration, Mining For Economic Diversification

In a bid to harness the vast resources of the blue economy and drive economic growth, the federal government through the Ministry of marine & blue economy has set its sights on deep seabed exploration and mining activities.

Speaking at a stakeholders’ sensitization workshop on deep seabed activities organised by the Ministry in collaboration with the Nigerian Maritime Administration and Safety Agency ( NIMASA) in Abuja on Wednesday, Minister of Marine and Blue Economy, Adegboyega Oyetola emphasised that Nigeria’s extensive coastline and inland waterways make it an ideal player in the emerging deep-sea exploration sector.

Represented by the permanent secretary of the Oloruntola Olufemi, Oyetola added that the transition from a fossil fuel-based to a mineral-based economy also presents opportunities for Nigeria to leverage its marine resources, particularly wave and tide energy, to generate clean energy.

He noted that effective utilisation of these resources will substantially contribute to Nigeria’s energy needs.

He said, “Nigeria’s establishment of a full-fledged Ministry of Marine and Blue Economy in 2023 demonstrates our commitment to diversifying our economy and capitalising on the global surge in deep-sea exploration. As a major oil-producing country with an extensive coastline and inland waterways, we cannot afford to lag in this new frontier.

RELATED

AMCON Begins Asset Resales, Sells IBEDC For N100bn

9 hours ago

NCAA Names Max Air ‘Most Unresponsive Domestic Airline’ To Passenger Complaints

14 hours ago

“This workshop aims to raise awareness among critical stakeholders about the importance of Deep Seabed exploration and exploitation, addressing environmental and social implications and  ensuring effective protection of the marine environment from harmful effects that may arise from deep seabed activities.”

Also speaking, the Nigerian Marítime Administration and Safety Agency (NIMASA), called for the amendment of the Nigerian Minerals and Mining Act 2007  to reflect relevant provisions of International Seabed Authority’s (ISA’s) model of legislation on exploration and exploitation.

The director general of NIMASA, Dr Dayo Mobereola, said deep sea mining presents a unique opportunity for Nigeria to diversify its economy and secure long-term economic growth.

According to him, deep Seabed mining is an integral part of the Blue Economy that promised technological advancement, resource security, and job creation.

Dr Mobereola, however, warned that for the potential to be realised and harnessed, Nigeria must proactively address the associated environmental, technical, and regulatory challenges.

“NIMASA will play a critical role by collaborating with relevant MDAs and the International Seabed Authority (ISA) in providing the regulatory framework and establishing environmental protection guidelines for seabed mining. The Agency could also help develop training programs to grow local expertise in deep seabed mining technologies and operations. Promote Research and Development in marine science and technology to enhance knowledge of deep-sea ecosystems and resource potential.

“We remain committed to ensuring that relevant legislative frameworks on the sustainable use of the Marine Environment and Safety standards are fully implemented.

It is also crucial that the Nigerian Minerals and Mining Act 2007 is amended to reflect relevant provisions of ISA’s model of legislation on exploration and exploitation.”

Also speaking, director, Maritime Safety and Security Bombata Babatunde, said the Ministry and NIMASA remains committed to promoting collaborative efforts with key industry players, driving innovation, and championing sustainability.

“As we convene here today, we acknowledge the relatively uncharted terrain of deep seabed activities. The workshop aims to illuminate the opportunities and importance of exploring Africa’s continental shelf while ensuring responsible environmental management and adherence to regulatory frameworks, “he said.

Speaking earlier, the minister of Solid Minerals Development, Dele Alake, stated that the seabed holds enormous potential for diversifying Nigeria’s resource base.

Alake who was represented by the permanent secretary of the ministry, Dr Mary Ogbe, however, warned that exploration and exploitation must be guided by global best practices, with due consideration given to environmental stewardship.

“As the Ministry directly responsible for solid minerals development in Nigeria, we are aware of the need for a comprehensive regulatory framework tailored to deep-seabed mining. The seabed holds enormous potential for diversifying Nigeria’s resource base, but its exploration and exploitation must be guided by global best practices, with due consideration given to environmental stewardship.

“To this end, we are looking to develop a legal and regulatory structure that will govern deep-seabed mining in Nigeria, ensuring that it contributes significantly to national economic growth in the nearest future,” he stated.