KEY POINTS

• MoU focuses on sustainable mining and environmental restoration.
• Partnership promotes joint ventures and capacity building.
• French investors invited to Nigeria’s mining sector.

Nigeria and France have signed a Memorandum of Understanding (MoU) to diversify Nigeria’s solid minerals value chain and promote sustainable mining practices. This milestone was achieved during President Tinubu’s official visit to France. 

The collaborative efforts of Nigeria’s Minister of Solid Minerals Development, Dele Alake, and France’s inter-ministerial delegate for critical ores and metals, Benjamin Gallezot, signed the agreement on behalf of their respective countries.

Franco-Nigerian pact fosters research and sustainability

The MoU establishes a framework for collaboration on research, training, and Franco-Nigerian student exchanges to facilitate knowledge and skills transfer. 

According to Segun Tomori, special assistant on media to the minister, the initiative underscores a commitment to reducing the environmental impact of mining through projects that address carbon emissions, water usage, and climate change.

Joint ventures to drive industry growth

The agreement includes plans for joint extractive and processing projects funded by both public and private entities, focusing on securing critical mineral supplies and decarbonizing energy projects. 

This aligns with Nigeria’s goal of making its solid minerals sector globally competitive.

The partnership will also prioritize the rehabilitation of over 2,000 abandoned mining pits across Nigeria, offering opportunities for environmental restoration and post-mining initiatives. Additionally, the deal mandates adherence to international best practices to ensure transparency and improve living conditions for communities impacted by mining activities.

Capacity building and investor engagement

Through bilateral training programs, seminars, and multilateral events, administrators in the critical metals sector will receive capacity-building support. 

The agreement also seeks to attract French investors to Nigeria’s mining sector.

“This MoU represents a significant boost to Nigeria’s effort to reposition its solid minerals sector for international competitiveness,” Alake said. 

He further added that “We will leverage this partnership to open up opportunities for French investment in mining.”

The deal is poised to reshape Nigeria’s mining landscape, enhancing its sustainability, transparency, and economic impact.