Nigeria is casting its eyes south for assistance in developing its mining sector.

Reuters reports that Nigeria has signed a memorandum of understanding with South Africa, to boost co-operation in mining in its attempt to diversify its economy away from oil.

The agreement will see the two countries partnering on geological mapping using drones, sharing mineral data and jointly exploring agro and energy minerals, according to the Minister of Solid Minerals Development in Nigeria, Dele Alake.

While mining only contributes 1% of GDP in Nigeria, the West African country reportedly has 23 mineral deposits in commercial quantities, including gold, limestone, lithium, iron ore and zinc.

“The Memorandum of Understanding in geology, mining and mineral processing signed today will serve as a cornerstone for facilitating knowledge and technology transfer, investment promotion, capacity building, regional integration, and value addition,’ Alake reportedly said in Nigeria last week.

22 April 2025
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