Nigeria and Saudi Arabia are strengthening ties to elevate their mining industries, with Nigeria seeking to harness Saudi Arabia’s expertise in mineral exploration to unlock the full potential of its $2.9 billion mining sector.
This development was revealed in a statement by Segun Tomori, Special Assistant on Media to Nigeria’s Minister of Solid Minerals Development, Dele Alake, following a closed-door meeting at the 2025 Future Minerals Forum (FMF) in Riyadh, Saudi Arabia.
During the meeting, Saudi Arabia’s Minister of Mining, Bandar Al-Khorayef, and Nigeria’s Dele Alake discussed collaborative opportunities to transform the mining value chain.
Alake highlighted the potential for Nigeria’s gold refineries to tap into Saudi Arabia’s robust gold market through protective agreements, fostering economic growth for both nations.
Alake also encouraged Saudi investors to explore Nigeria’s abundant deposits of lithium and iron ore, emphasizing their role in the global shift toward electric vehicles and industrial advancements.
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He assured investors of Nigeria’s readiness to provide comprehensive geological data to minimize risks and support profitable ventures.
The Saudi delegation showcased cutting-edge technologies aimed at enhancing mineral exploration and presented new products designed to stimulate international business partnerships.
As part of Nigeria’s commitment to an investor-friendly environment, Alake underscored the establishment of world-class mineral laboratories and highlighted the country’s role as a key player in the global mineral supply chain.
With the FMF serving as a platform for fostering international collaboration, the partnership between Nigeria and Saudi Arabia could mark a turning point for both economies, driving innovation and prosperity in the mining sector.
