The Presidency has dismissed speculations that France is taking over Nigeria’s mining sector, solid minerals or security rights after the recent visit of President Bola Tinubu.
Henzodaily recalls that during Tinubu’s state visit to France, Nigeria and the European country signed a Memorandum of Understanding to develop joint projects to promote and diversify both countries’ critical minerals value chains in the solid minerals sector.
The MOU led to speculations online that France was planning to take over Nigeria’s mining sector and solid minerals.
However, the Special Adviser to the President on Media and Public Communication, Sunday Dare, in a statement via X titled, “The Facts: Nigeria-France MOU on Critical Minerals,” said Nigeria did not sign away its mining rights.
Dare stated that both countries agreed to develop joint projects to promote and diversify the critical minerals value chain in both countries’ solid minerals sector.
According to the former Minister of Sports and Youth Development, Nigeria would comply with international global standards based on the MOU.
Dare added that the MOU is expected to open new opportunities for the remediation of over 2,000 abandoned pits in the country through its plan to intervene in environmental rehabilitation and post-mining projects.
The statement reads, “The French are not Taking Over. Nowhere in the document was it agreed or suggested that Nigeria has signed away Mining Rights to the French, nor does it connote anything against Nigeria’s Economic and Security interest as being maliciously circulated.
“Nigeria and France have agreed to develop joint projects to promote and diversify the critical minerals value chain In the solid minerals sector of both countries. Critical minerals such as copper, lithium, nickel, cobalt and rare earth elements are essential to clean energy technologies.
“In the Memorandum of Understanding signed by both countries on the sidelines of the official visit to France by President Bola Ahmed Tinubu recently, both countries agreed to collaborate on research, training and Franco-Nigerian students exchanges for knowledge and skills transfer.
“A key component of the Memorandum of Understanding is the promotion of sustainable mining activities by executing projects and programmes which reduce the environmental impact of mining on carbon emissions, water consumption and climate change.
“It also includes the establishment of joint extractive and processing projects through co-financing by public and private entities to diversify and secure the supply of critical minerals and decarbonise energy projects critical to the value chain.
“Both agreed to adopt international best practices in the execution of programmes and projects to improve the conditions of the local populace affected by mining and ensure transparency.
“The MOU is expected to open new opportunities for the remediation of over 2,000 abandoned pits in the country through its plan to intervene in environmental rehabilitation and post-mining projects.
“Through regular bilateral and multilateral training, seminars and events, administrators of institutions in the critical Metals sector are expected to improve their capacity to manage the sector’s value chain.”