Nigeria and South Africa have entered into a Memorandum of Understanding (MoU) concerning mining development, with the objective of enhancing industrialization and creating job opportunities in both nations.
This agreement is part of broader efforts to strengthen strategic collaboration within the framework of the Nigeria–South Africa Bi-National Commission, which has recently been revitalized by President Bola Ahmed Tinubu and President Cyril Ramaphosa of South Africa.
The MoU, signed in Abuja, represents a significant advancement in bilateral economic diplomacy, particularly within the solid minerals sector, which both countries recognize as essential for fostering industrial growth, generating employment, and promoting sustainable development.
A statement issued on Wednesday by Segun Tomori, Special Assistant on Media to the Honourable Minister of Solid Minerals Development, indicated that the agreement was formalized during a bilateral meeting between Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, and South Africa’s Minister of Mineral Resources and Energy, H.E. Gwede Mantashe, at the Ministry’s headquarters in Abuja.
- Advertisement -
During the event, Dr. Alake characterized the agreement as a pivotal moment in bilateral relations, emphasizing that mining has significant potential to reshape Africa’s economic landscape. He elaborated that the partnership would prioritize technology transfer, investment promotion, skills development, and regional integration—key elements for enhancing value addition and ensuring long-term prosperity.
Dr. Alake reaffirmed the Tinubu administration’s dedication to repositioning the mining sector as a fundamental aspect of economic diversification. He pointed out that while Nigeria possesses a wealth of untapped mineral resources, South Africa brings decades of expertise in mining governance, operations, and financing, creating an ideal synergy for collaboration.
