Nigeria, France Sign MoU to Develop Mineral Value Chain in Both Countries

In a significant move to boost the solid minerals sector, Nigeria and France have signed a Memorandum of Understanding (MOU) to develop the mineral value chain in both countries. The agreement aims to promote and diversify the critical minerals value chain, focusing on essential minerals like copper, lithium, nickel, cobalt, and rare earth elements.

The Signing Ceremony

The MOU was signed during President Bola Ahmed Tinubu’s official visit to France. Dr. Olalekan Adegbite, Nigeria’s Minister of Mines and Steel Development, signed the agreement on behalf of Nigeria, while Benjamin Gallezot, France’s Director-General for Enterprise, represented France.

Objectives of the MOU

The MOU outlines several key objectives, including:

1. Joint Projects: Collaboration on research, training, and student exchanges to promote knowledge and skills transfer.
2. Sustainable Mining: Promotion of sustainable mining activities to reduce environmental impact, carbon emissions, and water consumption.
3. Joint Executive and Processing Projects: Establishment of joint projects through co-financing by public and private entities to diversify and secure critical mineral supply.
4. Transparency and Best Practices: Adoption of international best practices in project execution, prioritizing transparency and improving conditions for local communities affected by mining.

Expected Outcomes

The partnership is expected to open up new opportunities for Nigeria’s solid minerals sector, including:

1. Remediation of Abandoned Pits: Remediation of over 2,000 abandoned pits and environmental rehabilitation projects.
2. Job Creation: Creation of jobs and economic opportunities for local communities.
3. Increased Revenue: Increased revenue generation for the Nigerian government through the development of the solid minerals sector.
4. Improved Infrastructure: Improvement of infrastructure, including roads, bridges, and energy supply, to support the development of the solid minerals sector.

Quote from President Bola Ahmed Tinubu

“This partnership with France marks a significant milestone in our efforts to develop Nigeria’s solid minerals sector. We are committed to creating a conducive environment for investment and ensuring that the benefits of this sector are shared equitably among all stakeholders.”

Quote from Dr. Olalekan Adegbite

“This MOU is a testament to the strong relationship between Nigeria and France. We look forward to working together to develop our solid minerals sector and create a brighter future for our people.”

Conclusion

The signing of the MOU between Nigeria and France marks a significant step towards the development of Nigeria’s solid minerals sector. The partnership is expected to bring about numerous benefits, including job creation, increased revenue generation, and improved infrastructure. As Nigeria continues to diversify its economy, the solid minerals sector is poised to play a critical role in the country’s development.