The governments of Nigeria and Saudi Arabia have agreed to collaborate on enhancing their mineral exploration capacities, drawing on Saudi Arabia’s advanced technological expertise and experience in the sector.
This decision emerged during discussions at the 2025 Future Minerals Forum, held from January 14 to 16 in Riyadh.
The event, themed “Year of Impact,” convened global leaders to explore critical minerals’ role in driving energy transitions and fostering economic diversification.
In a closed-door meeting on the forum’s sidelines, Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, and Saudi Arabia’s Minister of Mining, Bandar Al-Khorayef, outlined joint initiatives aimed at achieving mutual economic benefits through strategic partnerships in mining and mineral processing.
Segun Tomori, Special Assistant on Media to Dr. Alake, made this known in a statement on Tuesday.
He added that the ministers emphasized the importance of leveraging their countries’ respective strengths to unlock opportunities along the solid minerals value chain.
Dr. Alake proposed that Nigeria’s gold refineries gain access to Saudi Arabia’s lucrative gold market through protective trade agreements, a move he said would create significant opportunities for market expansion and mutual economic growth.
Building on this, Saudi Arabia highlighted its substantial progress in modernizing its mining industry. Minister Al-Khorayef underscored the nation’s commitment to innovation, noting that advanced technologies for mineral exploration were showcased at the forum to attract international partnerships and demonstrate their practical applications.
In their discussions, both ministers stressed the need to align their efforts with global trends, particularly the surging demand for critical minerals essential to renewable energy technologies.
What we know
Dr. Alake extended an invitation to Saudi investors, urging them to consider opportunities in Nigeria’s mining sector. He underscored the country’s abundant reserves of lithium and iron ore, commodities that are increasingly critical to global energy transitions and industrial applications.
The minister assured investors that the Nigerian Geological Survey Agency would provide detailed data on mineral deposits to minimize risks and facilitate informed investment decisions.
Tomori quoted Dr Alake saying, “Partnership with Saudi investors will encourage the export of finished industrial inputs.”
What to know
Dr. Alake also highlighted Nigeria’s efforts to establish a supportive infrastructure for mining, including the creation of certified laboratories for mineral testing and analysis. He described these facilities as the best in West Africa, designed to ensure quality and reliability for investors.
Drawing from Saudi Arabia’s advanced steel production sector, Dr. Alake suggested replicating successful models in Nigeria to strengthen its domestic capabilities in iron ore processing and steel manufacturing.
As both nations seek to expand their influence in the global minerals market, the renewed partnership is expected to enhance bilateral trade, foster innovation, and create pathways for sustainable development in the solid minerals sector.
