Nigeria and Saudi Arabia have renewed their commitment to strengthening their geological agencies and boosting mineral exploration by leveraging Saudi Arabia’s advancements in mining technologies.
At a closed-door meeting during the Future Minerals Forum (FMF) in Riyadh, Saudi Arabia, the Saudi Minister of Mining, Engr. Bandar Al-Khorayef, highlighted the efforts of the Saudi government and private sector in integrating cutting-edge technologies into mineral exploration. He noted that innovative products displayed at the forum aimed to enhance awareness and adoption across the mining sector.
The initiative was spearheaded by Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, who advocated for mutually beneficial partnerships between the two nations across the mining value chain. Dr. Alake emphasized Nigeria’s potential in leveraging Saudi Arabia’s gold market to position Nigerian gold refineries under agreements that would foster economic growth for both countries.
Accompanied by Minister of State for Finance, Dr. Doris Uzoka-Anite, and other top officials, Dr. Alake also engaged with the Saudi Chamber of Commerce to attract investment in Nigeria’s vast lithium and iron ore deposits. He assured prospective investors that the Nigerian Geological Survey Agency (NGSA) would provide detailed data to de-risk investments and streamline exploration projects.
Dr. Alake further underlined Nigeria’s strategic role in the global shift toward lithium-powered electric machines, proposing partnerships with Saudi investors to facilitate the export of processed industrial inputs. He also commended Saudi Arabia’s steel production investments, positioning them as a model for Nigeria’s iron ore-to-steel initiatives.
This collaboration demonstrates Nigeria’s dedication to diversifying its economy through solid minerals development and harnessing international expertise to unlock the sector’s potential.
