HomeIndustry SectorsFinance and PolicyS.African President to strengthen trade with Nigeria

S.African President to strengthen trade with Nigeria

In Nigeria, South African President, Jacob Zuma, has promised to assist Nigeria with its Achilles heel of electricity generation through developing stronger business-to-business partnerships between the two countries.

Nigeria to benefit from RSA minerals

Addressing Nigeria’s President Muhammadu Buhari, at a joint session of the Nigerian National Assembly yesterday, Zuma stressed that the “South Africa government is prepared to avail Nigeria the opportunity to tap from its exploits in electricity generation as well as solid minerals,” Leadership reported.

Zuma explained: “Our experience in electricity generation can also be tapped into, to assist in Nigeria’s electricity generation, to name but a few. In this regard, South Africa’s solid minerals mining experience can contribute to solid minerals exploration in Nigeria.”

Job creation

[quote]Stressing the need for economic diversification, Zuma said that both countries must work together to assist in job creation as he said this will improve the impact that Africa can have in the global economy and to reconfigure the terms of trade, Leadership reported.

Zuma said: “The diversification of the economy, namely electricity generation and supply, agriculture and agro-processing, tourism development including the hospitality sector, mining, banking, infrastructure development, aviation, manufacturing and the automotive sector.

“We must strive for the diversification of our economies, so as to cast the net wide enough to create more job opportunities for our people, to improve their living conditions and grow our economies through domestic resources in the first instance”.

He concluded: “We must strive to bring the manufacturing plants closer to the sources of raw materials. South Africa and Nigeria can to a large extent, complement each other towards the achievement of this.”

Decrease in generation

In recent reports, the Nigerian federal ministry of power stated that electricity generation is gradually declining because of gas supply challenges.

The ministry noted that power generation stood at 3,659.74MW on 27 February 2016, against the 3,594.71MW energy sent out to power consumers.

ESI Africa reported that amid the recent electricity price increase that has caused unrest across the country, it has also been reported that the Discos have endorsed continual blackouts due to a drop in power generation level.


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Ashley Theron
Ashley Theron-Ord is based in Cape Town, South Africa at Clarion Events-Africa. She is the Senior Content Producer across media brands including ESI Africa, Smart Energy International, Power Engineering International and Mining Review Africa.