Tinubu Calls on South African Companies to Invest in Nigeria’s Solid Mineral Sector

Ahead of the United Nations General Assembly in New York, Nigerian President Bola Tinubu engaged in a comprehensive bilateral discussion with South African President Cyril Ramaphosa. The dialogue focused on harnessing the mutual strengths of both nations, particularly encouraging South African companies to invest in Nigeria’s burgeoning solid minerals sector.

The meeting, according to Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, was part of President Tinubu’s broader diplomatic initiative aimed at attracting international investment to Nigeria.

During the discussion, President Tinubu emphasized that South African mining industries have significant expertise that could benefit Nigeria’s untapped mineral reserves. He mentioned that South African businesses have already made successful inroads into the Nigerian telecommunications sector.

 The Marshall Plan as a strategy for rebuilding nations

Both presidents expressed optimism about creating jobs and achieving mutually beneficial results by collaborating in the area of solid minerals development. President Tinubu further asserted that African nations must work together to ensure that international development funding meets the specific needs of the continent’s developing democracies. 

He talked about the Marshall Plan, established for post-World War II Europe, as an example of targeted financial support that helped rebuild nations. He stressed that Africa should not be a playground for economic scavenging but should be seen as fertile ground for meaningful investment and cooperation.

The companies set to broaden economic ties

South African President Ramaphosa agreed that both countries, being two of Africa’s largest economies, should deepen their economic ties, especially considering the African Continental Free Trade Agreement. Ramaphosa acknowledged that when Nigeria and South Africa collaborate, the impact resonates globally. He also praised President Tinubu’s effective leadership as the Chairman of the ECOWAS Authority of Heads of State and expressed interest in learning from the unity shown in West Africa.

The discussion also led to a formal invitation from President Ramaphosa for President Tinubu to visit South Africa. The visit is anticipated to build on the economic ties and broader relationship between the two nations. Accepting the invitation, President Tinubu underlined that a united Africa, led by synergy between Nigeria and South Africa, could significantly impact global affairs and benefit its vast population.

The high-level talk between Tinubu and South African leader, Ramaphosa sets the stage for potential significant investment from South Africa into Nigeria’s solid minerals sector, thus, building companies. This is a development both countries believe will contribute to job creation, economic growth, and stronger bilateral relations.