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KEY POINTS
- Nigeria is pushing for Saudi partnership to expand mining capacity and improve mineral exploration
- The talks took place ahead of the Future Minerals Forum in Riyadh
- Both countries are considering a draft agreement on solid minerals development
Nigeria wants to work more closely with Saudi Arabia to improve its mining industry, focusing on exploration of minerals, skills development, and technology transfer.
Dele Alake, the Minister of Solid Minerals Development, made the call during a meeting with Ibrahim Al-Khorayef, Saudi Arabia’s Minister of Industry and Mineral Resources. The Future Minerals Forum will be held in Riyadh from January 13 to January 15.
According to a statement from the minister’s media aide Segun Tomori, the meeting was meant to set the stage for more cooperation between the two countries in the development of solid minerals.
Lithium and gold drive Nigeria’s mining of minerals push
Alake said that Nigeria wants to be the top minerals hub in Africa under its value addition policy. Lithium and gold projects have been the main drivers of recent growth.
He talked about the opening of a gold refining plant in Lagos and three more refineries that are being built. He also talked about a lithium processing plant in Nasarawa State that is ready to open and cost N600 million.
He said that Nigeria wants to move beyond exporting raw mineral products by building up its own processing capacity and bringing in partners with technical skills.
The Ministry of Industry, Trade and Investment described the CEPA as a transformative step that reshapes Nigeria’s trade architecture and improves its competitiveness in international markets.
Trade analysts say the agreement could help Nigeria diversify exports beyond crude oil, stimulate value added production and attract fresh capital into non oil sectors.
Implementation is expected to begin after ratification processes are completed, with authorities urging Nigerian businesses to prepare to take advantage of the expanded access created by the deal.
