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Tinubu Encourages South African Companies to Invest in Nigeria’s Solid Minerals Sector

President Bola Tinubu shakes hands with South African President Cyril Ramaphosa during a bilateral discussion in New York on Monday, September 18, 2023. (Photo: X/@NGRPreside

President Bola Tinubu engaged in a bilateral discussion with South African President Cyril Ramaphosa on Monday in New York City, ahead of the United Nations General Assembly, focusing on enhancing economic ties and attracting investments. Tinubu encouraged South African mining industries to invest in Nigeria’s solid minerals development sector, highlighting the potential for collaboration between the two nations.

During their discussion, President Tinubu emphasized the need for international development finance institutions to tailor their investments to meet the specific needs of developing democracies in Africa. He drew parallels to the Marshall Plan’s post-World War II efforts in Europe and called for similar support for Africa’s economic development.

President Tinubu also stressed the importance of addressing poverty and ensuring food security to maintain stable democracies. He expressed the readiness of Nigeria and South Africa to collaborate mutually for the benefit of their populations.

In response, President Ramaphosa acknowledged the significance of deepening economic ties between the two major African economies, particularly in light of the African Continental Free Trade Agreement. He praised Nigeria’s recent economic reforms and expressed a strong desire to leverage each nation’s strengths for mutual wealth creation.

President Ramaphosa emphasized the potential impact of Nigeria and South Africa collaborating on global issues and called for a united front to advance the interests of the global south. He cited ECOWAS as an example of successful regional collaboration and expressed interest in emulating such unity in the Southern African sub-region.

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The South African leader also extended an invitation to President Tinubu to visit South Africa, mirroring President Ramaphosa’s recent visit to Nigeria, as part of efforts to deepen economic and bilateral relations between the two nations.

Accepting the invitation, President Tinubu emphasized the immense untapped potential in Africa and the need for African nations to work together to harness their vast human and natural resources. He envisioned a productive and economically beneficial relationship between Nigeria and South Africa, highlighting the continent’s capacity for accelerated growth and new economic opportunities.

The discussion between the two leaders underlined the importance of strong African partnerships in advancing mutual interests and making a global impact for the benefit of over one billion Africans.