FG explores deep seabed mining for revenue amid environmental impact

The Federal Government is set to explore deep seabed mining as a new revenue stream by tapping into unexploited mineral resources.

The government highlighted that deep sea exploration, extraction and processing could yield significant economic benefits and employment opportunities.

However, this initiative comes with potential environmental risks, such as damage to fragile ecosystems, the ocean floor, biodiversity, and water quality.

Additional challenges include an inadequate regulatory framework, the harsh conditions of deep-sea environments, the high costs and risks associated with such activities, and potential impacts on local communities, including displacement and loss of livelihoods.

Speaking yesterday at a stakeholders’ sensitisation workshop on deep seabed activities in Abuja, the Minister of Marine and Blue Economy, Adegboyega Oyetola, reaffirmed the country’s commitment to diversifying its economy by leveraging its vast marine resources.

Oyetola emphasised that Nigeria’s extensive coastline and inland waterways position the country as an ideal player in the emerging deep-sea exploration sector.

Represented by the Permanent Secretary, Oloruntola Olufemi, Oyetola noted that the transition from a fossil fuel-based economy to one focused on minerals offers opportunities for Nigeria to harness its marine resources, particularly in generating clean energy from wave and tidal sources.

“Nigeria’s establishment of a full-fledged Ministry of Marine and Blue Economy in 2023 demonstrates our commitment to diversifying the 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,” he stated.

Oyetola explained that the workshop aimed to raise awareness among key stakeholders about the importance of deep seabed exploration and exploitation, while also addressing the environmental and social implications.

In his presentation, the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dayo Mobereola, explained that deep-sea mining can occur within Exclusive Economic Zones (EEZs) under national jurisdiction or in areas beyond national jurisdiction, commonly referred to as the “Area” or international waters.

He noted that while Nigeria has long benefited from offshore oil and gas resources, deep seabed exploration offers an opportunity to further expand the country’s maritime resources beyond energy, aligning with the global shift towards sustainable development.

Mobereola highlighted that while deep seabed mining offers significant economic opportunities, it also presents challenges, one of the most pressing being its potential environmental impact.

He noted that the ocean floor is home to fragile ecosystems and unique biodiversity, noting that mining activities could disrupt these habitats.

“As part of NIMASA’s role in deep seabed mining, Section 1 of the Nigerian Maritime Administration and Safety Agency Act 2007 mandates the Agency to regulate and promote maritime safety, security, pollution prevention, and maritime labour, as well as the development of indigenous commercial shipping in international coastal trade,” Mobereola stated.

He further explained that NIMASA would collaborate with relevant Ministries, Departments, and Agencies (MDAs), as well as the International Seabed Authority (ISA), to provide the necessary regulatory framework and establish environmental protection guidelines for seabed mining.