Nigeria and Saudi Arabia have renewed plans to build the capacity of their geological agencies by leveraging the breakthroughs recorded by Saudi firms in mineral exploration.
Segun Tomori, the Special Assistant on Media to the Minister of Solid Minerals Development, Dele Alake, made this known in a statement on Tuesday in Abuja.
He said that this was on the sidelines of the Future Minerals Forum (FMF) in Riyadh, Saudi Arabia,
Tomori said the decision was taken at a closed-door meeting between a delegation from Saudi Arabia led by its Minister of Mining, Bandar Al-Khorayef, and Nigeria’s delegation led by Alake.
He said Alake proposed for both countries to collaborate on areas of economic advantage, urging partnerships based on the sector’s value chain.
Citing Saudi Arabia’s renowned gold market as an example, Alake said Nigeria’s gold refineries could access the Saudi market under protective clauses, guaranteeing expansion opportunities for both economies.
On his part, the Saudi Minister disclosed that its government and the private sector were working together to introduce new technologies for mineral exploration.
He emphasised that new products were showcased at the minerals forum conference to foster business partnerships and raise awareness of their applications.
Alake also met with officials of the Saudi Chamber of Commerce, where he canvassed their investment in Nigeria’s mining sector.
He urged them to leverage the large deposits of lithium and iron ore, which were being processed in Nigeria in line with the value addition policy.
To de-risk their investment, the minister promised to direct the Nigerian Geological Survey Agency, to provide relevant data on their minerals of interest.
According to the minister, the global transition toward electric machines, which use lithium batteries, has positioned Nigeria as a critical supplier of minerals
Tomori quoted him saying, “Partnership with Saudi investors will encourage the export of finished industrial inputs.”
Acknowledging the investment in steel production in Saudi Arabia, the minister cited examples of companies processing iron ore to steel in Nigeria as precedents that could be replicated.
He said that Nigeria was committed to creating an enabling environment for investors to ensure smooth operations in mining projects.
The minister said they included the establishment of laboratories for the separation and analysis of mineral samples, among other facilities.
“Nigeria has the best certified laboratories for minerals in West Africa,” he said.
The 2025 Future Minerals Forum (FMF) with the theme: “Year of Impact,’ was held from Jan. 14 to 16 in Riyadh, Saudi Arabia.
The meeting was to bolster international collaboration in producing the critical minerals essential for the global energy transition.