By: The nation Kenya

Deputy High Commissioner Alexander Temitope Ajayi emphasized that for Nigeria to achieve a balanced trade relationship with South Africa, it must diversify its non-oil sectors, including mining and agriculture. He made these remarks during a meeting with visitors from the Media Innovation Programme, alongside representatives from MTN and Pan-Atlantic University, who were concluding a study tour in South Africa.

Ajayi highlighted the importance of Nigerian businesses expanding their footprint in South Africa, particularly through collaboration under the Bi-National Commission (BNC). He pointed to significant opportunities for Nigeria to benefit from South Africa’s advanced mining expertise, especially as the Tinubu administration prioritizes economic diversification through solid minerals, blue economy, and digital economy initiatives.

The envoy noted that Nigerian companies are significantly underrepresented in South Africa compared to the strong presence of South African firms in Nigeria. He referenced Nigeria’s recent critical minerals investment roadshow in Johannesburg as a step toward fostering partnerships and developing Nigeria’s mining sector.

Ajayi also addressed trade imbalances, noting that while Nigeria maintains a favorable overall trade position due to crude oil exports, non-oil trade remains weak. He reiterated President Cyril Ramaphosa’s call for stronger two-way trade and emphasized the need for more Nigerian products on South African shelves. Additionally, he mentioned Nigeria’s active role in upcoming international engagements, including a high-level meeting on industrialisation and agriculture ahead of the G20 Summit.