Venezuelan investors, led by Deputy Minister Alejandro Martinez, show interest in Nigeria’s mining sector during discussions at the Mining Indaba in Cape Town. Minister Dr. Dele Alake emphasized the need for both nations to diversify economies beyond oil, particularly in minerals like lithium. Alake invited Venezuela to join a new coalition aimed at stimulating trade and collaboration in mining, focusing on local value addition.
Venezuela’s Deputy Minister of Mining, Alejandro Martinez, has communicated the interest of Venezuelan investors in Nigeria’s mining sector opportunities. This was disclosed during the Mining Indaba event in Cape Town, South Africa, where he conversed with Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake. Martinez highlighted that investors focusing on mining machinery production are particularly eager to explore Nigeria’s expanding mining landscape.
Martinez requested assistance from Minister Alake to promote collaboration, encouraging Venezuelan investors to visit Nigeria and acquire relevant investment information. Alake reflected on the historical mutual benefits derived from petroleum production, noting that current economic and environmental challenges compel both nations to pursue alternative revenue sources from solid minerals.
Minister Alake noted, “Nigeria focused on petroleum. Now, the world is moving to green energy. Compulsorily, we have to shift our attention to our minerals. Diversification of the economy is a core component of President Tinubu’s Renewed Hope Agenda, and we have a lot of the minerals that the world requires.”
The Minister emphasized the importance of sustainable resource exploration and value addition that benefits local economies. He explained, for instance, that the intent is to process lithium domestically for use in batteries rather than allowing it to be exported unprocessed. Alake extended an invitation for Venezuela to join a coalition known as the “Super Region” of African, Asian, and Middle Eastern countries, aimed at enhancing trade and addressing shared challenges.
Alake concluded by stating, “We are ready and open for business with anyone, any nation, any investor that shows seriousness and a clear pathway for legitimate, sustainable, and local value-addition plans.” This dialogue establishes a promising framework for cooperation between Venezuela and Nigeria in the mining sector.
The interest of Venezuelan investors in Nigeria’s mining sector comes at a pivotal time when both countries seek to diversify their economies beyond petroleum. With global energy trends shifting towards greener alternatives, there is an increasing necessity for nations rich in mineral resources to exploit these assets sustainably. The partnership aims to foster economic independence and development through local value addition in the mining industry, thereby creating jobs and revitalizing economies.
The discussions between Venezuela and Nigeria present a strategic opportunity to leverage natural resources for economic development. By focusing on sustainable practices and local value addition, both nations can benefit from a collaborative approach in the mining sector. The ongoing dialogue exemplifies how international partnerships can facilitate economic diversification amid global environmental considerations.
Original Source: punchng.com
