Nigeria and Saudi Arabia have deepened plans to build the capacity of their geological agencies by using Saudi firms' breakthrough in mineral exploration.

The Special Assistant on Media to the Minister of Solid Minerals Development, Segun Tomori, revealed this in a statement on Tuesday, January 21, 2024 in Abuja.

He stated that the decision was made during a closed-door meeting between a delegation from Saudi Arabia led by its Minister of Mining, Bandar Al-Khorayef, and Nigeria’s delegation led by the Minister of Solid Minerals Development, Dr. Dele Alake.

He added that Alake proposed for the two countries to work together on areas of economic advantage, encouraging partnerships based on the sector’s value chain.

Citing Saudi Arabia’s renowned gold market as an example, Alake said Nigeria’s gold refineries could access the Saudi market under protective clauses, guaranteeing expansion opportunities for both economies.

Alake was quoted as saying, “Partnership with Saudi investors will encourage the export of finished industrial inputs.

“Nigeria has the best certified laboratories for minerals in West Africa.”

The 2025 Future Minerals Forum (FMF) with the theme: “Year of Impact,’ was held from Jan. 14 to 16 in Riyadh, Saudi Arabia.