South Africa and Nigeria Collaborate on Lithium for Electric Vehicle Development

South African President Cyril Ramaphosa proposed collaboration with Nigeria to utilize its lithium resources for green energy and electric vehicle battery production. He emphasized the need for private sector engagement and supportive infrastructure, while also expressing support for Nigeria’s G20 ambitions. Both leaders reiterated the strategic importance of their partnership to advance economic growth and reduce dependency on oil and gas.

President Cyril Ramaphosa of South Africa affirmed his country’s commitment to partner with Nigeria in the exploration of critical minerals, particularly lithium, to facilitate the transition to green energy and the advancement of electric vehicle (EV) battery production. Addressing attendees at the Nigeria-South Africa Business Roundtable in Cape Town, he underscored the significance of Nigeria’s rich lithium resources as vital to boosting industrial efforts in the EV sector.

In his remarks, President Ramaphosa urged collaboration between the private sector and development finance institutions to construct the necessary infrastructure and enhance manufacturing capabilities within this industry. He stated: “Our two countries are strategically positioned to benefit from the rapid growth of clean energy manufacturing industries.” Furthermore, he detailed South Africa’s Just Transition Framework, emphasizing the need to harness the natural resources of both nations to promote green industrialization amid a global shift toward a low-carbon economy.

In a show of solidarity, President Ramaphosa expressed South Africa’s strong support for Nigeria’s aspirations to join the Group of Twenty (G20), highlighting the critical need for African representation in global economic forums. He declared that South Africa has historically acted as Africa’s voice in the G20 and advocated for the inclusion of other prominent African nations.

The leaders also discussed the full activation of the Joint Ministerial Advisory Council on Industry, Trade, and Investment, initiated to bolster economic collaboration between Nigeria and South Africa. This council aims to tackle trade and investment challenges, thus creating a favorable environment for businesses in both countries. While acknowledging the existing trade deficit with Nigeria, due mainly to energy imports, Ramaphosa insisted on diversifying trade relations beyond oil and gas dependencies.

To this end, Nigerian President Bola Tinubu reassured attendees of Nigeria’s open business climate, promising stability, security, and adherence to the rule of law to attract foreign investment. He stressed Nigeria’s ongoing economic reforms aimed at fostering prosperity in the region and welcomed South African businesses, while calling for reciprocal opportunities for Nigerian companies in South Africa. In conclusion, both leaders highlighted the integral relationship between their nations as essential for advancing economic interests and enhancing prosperity in Africa.

The increasing global demand for electric vehicles (EVs) has positioned lithium as a key mineral in the battery manufacturing supply chain. South Africa and Nigeria, as two of Africa’s leading economies, are looking to collaborate in leveraging their respective natural resources to support this growing sector. The significance of this partnership extends beyond economic implications, as it aims to promote sustainable industrial practices amidst an ongoing global transition to renewable energy.

President Cyril Ramaphosa and President Bola Tinubu’s discussions signify a critical step towards enhanced bilateral relations focused on harnessing natural resources for the benefit of both nations. Their commitment to the Joint Ministerial Advisory Council and the shared goal of diversifying trade indicates a proactive approach to addressing economic challenges and fostering mutual growth. The focus on lithium and electric vehicle industry development exemplifies an alignment with global sustainability goals, emphasizing the importance of Africa’s role in the green energy revolution.

Original Source: www.arise.tv