Nigeria and South Africa have signed a landmark agreement aimed at enhancing cooperation in the mining sector, as Nigeria seeks to diversify its economy beyond its dependence on oil.
Dele Alake, Nigeria’s Minister of Mines and Steel Development, announced on Thursday that the two countries will collaborate on various mining initiatives, including geological mapping using drones and the sharing of valuable mineral data. The partnership also aims to jointly explore agro and energy minerals within Nigeria, an effort that aligns with the country’s broader economic diversification strategy.
Beyond oil, Nigeria is home to a wide range of mineral resources, including gold, limestone, lithium, iron ore, and zinc. The country boasts approximately 23 mineral deposits in commercial quantities, making it one of Africa’s most resource-rich nations.
Despite this wealth of resources, Nigeria’s mining sector has historically been underdeveloped, contributing less than 1% to the country’s GDP. This collaboration with South Africa, a nation renowned for its mining expertise, is seen as a critical step in revitalizing Nigeria’s mining industry and unlocking its economic potential.
Minister Alake emphasized that South Africa’s established mining expertise will play a crucial role in helping Nigeria tap into its mineral wealth, while offering new opportunities for both nations in the global mining market.
© WAVN
