South Africa and Nigeria Collaborate on Lithium for Green Energy Transition
South Africa’s President Cyril Ramaphosa has announced a collaboration with Nigeria to utilize lithium resources to advance electric vehicle production and green energy initiatives. During the Nigeria-South Africa Business Roundtable, he highlighted the need for private-sector engagement in infrastructure development and the establishment of manufacturing capabilities. Both nations affirmed their commitment to enhancing economic cooperation and improving trade relations as a way to foster mutual prosperity.
President Cyril Ramaphosa of South Africa has underscored the nation’s eagerness to collaborate with Nigeria to exploit critical minerals, specifically lithium, to facilitate a transition to green energy and the advancement of electric vehicle (EV) batteries. During the Nigeria-South Africa Business Roundtable held in Cape Town, Ramaphosa highlighted the necessity of leveraging Nigeria’s extensive lithium deposits to enhance industrialisation in the EV sector. He called upon private enterprises and development finance institutions to join efforts in establishing the required infrastructure and expanding manufacturing capacities.
President Ramaphosa also emphasized opportunities for collaboration in pharmaceuticals and reiterated South Africa’s commitment to supporting Nigeria’s aspirations of joining the G20, making mention that both countries possess strategic advantages in the advancing clean energy manufacturing sector. He elaborated on South Africa’s Just Transition Framework and Investment Plan, designed to stimulate significant investments in renewable energy and the green economy.
Ramaphosa articulated the need for collective action to capitalize on abundant natural resources to promote green industrialisation, stating, “We must work together to ensure critical minerals are beneficiated at source.” Additionally, he expressed pride in South Africa’s role in advocating for African representation within the G20, remarking on the vitality of expanding African nations’ presence within such global entities to amplify Africa’s voice on the international stage.
The joint initiatives between Nigeria and South Africa also include the operationalisation of the Joint Ministerial Advisory Council on Industry, Trade, and Investment, aimed at enhancing economic cooperation and addressing existing trade challenges. President Bola Tinubu of Nigeria assured that Nigeria is committed to fostering an enabling environment for business through reforms aimed at improving stability, security, and adherence to the rule of law.
In conclusion, both leaders affirmed their positions on the strategic importance of diversifying trade relations beyond oil and gas, with a collective aspiration for mutual economic growth and prosperity.
The partnership between South Africa and Nigeria seeks to leverage Nigeria’s mineral wealth, particularly lithium, for the growing electric vehicle market and green energy initiatives. South Africa’s Just Transition Framework aims to promote renewable energy investments while enhancing the competitiveness of both countries within the clean energy manufacturing industries. This collaboration, emphasized at the Nigeria-South Africa Business Roundtable, is critical as it addresses the need for industrialization and sustainable economic reforms in both nations.
In summary, the engagement between South Africa and Nigeria at the Business Roundtable solidifies a commitment to collaborative economic growth through the harnessing of strategic resources such as lithium for EV production. Both Presidents emphasized the urgency of diversifying trade and strengthening diplomatic ties to enhance mutual benefits and support the development of a green economy. The operationalisation of the Joint Ministerial Advisory Council marks a significant step towards realizing these goals, promoting a stable and conducive environment for investment.
Original Source: www.arise.tv
