BY AKINTOROYE ADENIKE FATIMO
Nigeria and Saudi Arabia have renewed plans to enhance the capacity of their geological agencies by leveraging breakthroughs achieved by Saudi firms in mineral exploration.
Segun Tomori, the Special Assistant on Media to the Minister of Solid Minerals Development, Dele Alake, disclosed this in a statement in Abuja.
He stated that the development took place on the sidelines of the Future Minerals Forum in Riyadh, Saudi Arabia.
Tomori noted that the decision was reached during a closed-door meeting between a Saudi delegation, led by the Minister of Mining, Bandar Al-Khorayef, and a Nigerian delegation, led by Alake.
Alake proposed that both countries collaborate in areas of mutual economic advantage, emphasising partnerships across the sector’s value chain.
Using Saudi Arabia’s renowned gold market as an example, Alake suggested that Nigeria’s gold refineries could access the Saudi market under protective clauses, ensuring expansion opportunities for both economies.
In response, the Saudi minister revealed that the government and private sector were jointly introducing new technologies for mineral exploration. He highlighted the unveiling of new products at the forum to foster business partnerships and raise awareness of their applications.
Alake also met with officials from the Saudi Chamber of Commerce, where he advocated for investment in Nigeria’s mining sector.
He encouraged them to take advantage of Nigeria’s large deposits of lithium and iron ore, which are being processed in line with the country’s value-addition policy.
To de-risk their investment, the minister pledged that the Nigerian Geological Survey Agency would provide relevant data on minerals of interest.
According to Alake, the global transition towards electric vehicles, which use lithium batteries, has positioned Nigeria as a critical supplier of minerals.
Tomori quoted him as saying: “Partnership with Saudi investors will encourage the export of finished industrial inputs.”
Acknowledging Saudi Arabia’s investment in steel production, Alake cited examples of Nigerian companies processing iron ore into steel as precedents that could be replicated.
He reiterated Nigeria’s commitment to creating an enabling environment for investors to ensure seamless mining operations.
The minister mentioned plans to establish laboratories for mineral separation and analysis, among other facilities, stating: “Nigeria has the best-certified laboratories for minerals in West Africa.”
The 2025 Future Minerals Forum, themed “Year of Impact,” was held from 14 to 16 January in Riyadh, Saudi Arabia.
The forum aimed to bolster international collaboration in producing the critical minerals essential for the global energy transition.
