Nigeria and South Africa have signed a new agreement to work together in the mining sector. Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, made this announcement on Thursday, saying the deal is part of Nigeria’s bigger plan to reduce its heavy dependence on oil and grow other sectors of the economy.
According to the minister, both countries will partner in many areas of mining, including the use of drones for geological mapping, sharing of mineral data, and joint exploration of agro and energy minerals found in Nigeria. This agreement is expected to bring in more investments and modern technologies to help Nigeria tap into its rich mineral resources.
Dr. Alake explained that Nigeria is blessed with about 23 different mineral deposits that can be found in large, commercial quantities. These include gold, lithium, iron ore, limestone, and zinc, among others. But for many years, the country has not taken full advantage of these resources because the mining sector has remained underdeveloped.
He added that South Africa, which is known for its strong mining industry and long history of mineral exploration, is a valuable partner that can help Nigeria grow its mining sector in the right way. South Africa is home to many global mining companies and has experience in using modern technology and regulatory systems to grow its mineral wealth.
The partnership will involve training, data sharing, investment support, and technical assistance to improve Nigeria’s mining sector. One of the key areas of focus will be geological mapping, where drones and other high-tech tools will be used to scan and study mineral-rich areas in Nigeria to make exploration easier and safer.
Dr. Alake also noted that this move aligns with President Bola Tinubu’s Renewed Hope Agenda, which includes economic diversification, job creation, and boosting local production. The mining sector is expected to create thousands of jobs for young Nigerians and increase government revenue.
Nigeria’s mining sector currently contributes less than 1% to the nation’s gross domestic product (GDP). This is very low when compared to other African countries like South Africa, where mining plays a major role in the economy. With this new agreement, the Nigerian government hopes to raise the mining sector’s contribution to the GDP significantly over the next few years.
Experts believe that with proper investment and policy support, Nigeria can become a major player in Africa’s mining industry. The country has the minerals, the land, and now the right partners to move forward. However, challenges like illegal mining, lack of infrastructure, insecurity in some mining areas, and poor data management still need to be addressed.
This Nigeria-South Africa mining deal is expected to be the first of many such partnerships as Nigeria continues its push to open up the sector for serious local and international investors.
