Nigeria and South Africa Join Forces to Develop Mining Sector and Boost Economic Diversification
In a strategic move to reduce its dependence on oil, Nigeria has entered into a new agreement with South Africa aimed at revitalizing its underutilized mining sector. The accord was announced on Thursday by Mines Minister Dele Alake.
The partnership will include joint geological mapping with drone technology, data sharing on mineral resources, and collaborative exploration of both agricultural and energy-related minerals within Nigeria.
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Nigeria, rich in minerals like gold, lithium, limestone, iron ore, and zinc, holds about 23 commercially viable mineral deposits. However, mining currently contributes less than 1% to the nation’s GDP, highlighting the need for reform and investment.
Minister Alake emphasized that South Africa’s vast experience in the mining industry makes it an ideal partner to help unlock Nigeria’s mining potential.
The move is part of Nigeria’s broader strategy to diversify its economy and attract more foreign investment into non-oil sectors.
