Nigeria and South Africa sign a minerals accord as part of their diversification efforts

Nigeria’s mines minister announced Thursday that the country and South Africa have inked an agreement to increase mining cooperation, underscoring Abuja’s efforts to diversify its economy away from the oil industry.

According to Mines Minister Dele Alake, the two nations would work together to seek agriculture and energy minerals in Nigeria, share mineral data, and engage in mining activities such as drone-assisted geological mapping.

Nigeria is abundant in gold, limestone, lithium, iron ore, and zinc in addition to oil. There are about 23 commercially viable mineral resources in Nigeria.

Nigeria is working to revitalize its mining industry, which has historically been undeveloped and accounts for less than 1% of its GDP.

According to Alake, South Africa is an important partner in this endeavor because of its well-established mining knowledge.