Tag: France

Nigeria and France have reinforced their mining sector partnership with concrete commitments to advance the implementation of the Memorandum of Understanding (MoU) signed in Paris last month.

The commitments include upgrading Nigeria’s geological laboratories, providing advanced technological equipment, and funding the exploration of geological data for the Nigerian Geological Survey Agency (NGSA). 

The agreements were reached on Wednesday in Riyadh, Saudi Arabia, during a meeting between Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, and France’s Interministerial Delegate for Strategic Minerals, Benjamin Gallezot, on the sidelines of the ongoing Future Minerals Forum. 

According to a statement issued by Kehinde Bamigbetan, Special Adviser to Dr. Alake, both countries also resolved to exchange information on their respective mining laws to facilitate collaboration on cadastral management and strategies to combat illegal mining. 

During the meeting, Gallezot revealed that his department is screening a list of French companies interested in investing in Nigeria’s mining sector, with plans to forward a final selection of credible investors to the Ministry of Solid Minerals Development. 

Dr. Alake commended Gallezot for his efforts in finalizing the MoU despite time constraints during President Bola Tinubu’s visit to French President Emmanuel Macron.

He noted that the ongoing forum provides an opportunity to design policies and projects that will solidify cooperation and yield positive results. 

Key discussion points included sustainable mining practices, artisanal mining, geological exploration, cadastral management, training, and funding. 

Professor Olusegun Ige, Director-General of NGSA, highlighted the urgent need for advanced technological equipment to accelerate the exploration of Nigeria’s mineral-rich areas.

He emphasized that laboratory upgrades are crucial to accurately analyzing extracted rock samples using modern tools.

Harping on the need for training and skills transfer, Professor Ige emphasised the need to develop local expertise with international exposure because mining is a global business.

In his contribution, the Director-General of the Nigerian Mining Cadastral Office, Engineer Simon Nkom, called for comparing the mining laws of France and Nigeria to detect areas of common practices and improvement, adding that this could be useful to the ongoing review of mining laws.

Simon canvassed the French delegation to encourage French investors to explore opportunities in Nigerian mining by leveraging the MOU.

Executive Secretary of the Nigerian Solid Minerals Fund, Hajiya Fatima Shinkafi, in her presentation, proposed the co-funding of early-stage exploration projects by the agency and French financial institutions, informing that the SMDF has acquired a lot of historical data and best practices from its current collaboration with the Africa Finance Corporation to fund mining entrepreneurs seeking funding for exploration.

Replying to matters raised by NGSA, Deputy Director, Bureau de Recherches Geologiques et Minieres (BRGM), the French geological agency, Christophe Poinssot, promised to include Nigeria among the countries benefitting from funds managed by France to build the capacity of geologists in Africa.

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Noting that over 1,000 African geologists have benefitted from the eight-year fund, he said the request for capacity building in line with the MOU came when the new phase of the funding project was about to start.

Poinsott also announced that Nigeria would benefit from France’s programme of empowering mining countries by building laboratories for geological analysis, adding that since Nigeria has a laboratory, France would upgrade it to meet international standards.

Concluding the position of the French delegation on the talks, Gallezot said the proposals at the talks would be discussed at various levels of the government, and a programme for execution worked out.

He said both countries’ geological agencies could conduct joint exploration work on specific minerals to develop a robust database.

The parties resolved to develop the programme and review the implementation during next month’s annual Indaba in Cape Town, South Africa.

The federal government of Nigeria has entered into a €300 million development partnership with France to advance key sectors of the economy, including healthcare, transportation, renewable energy, and sustainable agriculture.

The agreement, signed by Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and France’s Minister of Economy, Finance, and Industry, Mr. Antoine Armand, alongside the French Development Agency (AFD), shows a shared vision for economic growth and sustainable development.

The partnership, sealed in France, includes two critical agreements aimed at driving President Bola Ahmed Tinubu’s Renewed Hope Agenda. Speaking at the signing ceremony, Mr. Edun noted the broader significance of the collaboration.

“This partnership goes beyond financial support. It is about building robust, sustainable systems that foster development and empower Nigerians. It reflects the confidence of international partners in the progress of Nigeria’s economic reforms,” he stated.

The agreements include a Letter of Intent co-signed by Edun and Armand, and a dedicated AFD commitment to fund initiatives that address Nigeria’s critical development needs.

The agreements prioritize investments in the following sectors: Urban Infrastructure and Transportation Networks designed to enhance connectivity and mobility across Nigeria.

Others are Healthcare Systems to strengthen service delivery to improve access and outcomes; Renewable Energy to support Nigeria’s energy transition and expanding access to sustainable energy solutions.

There is also Sustainable Agriculture and Food Security initiative to boost agricultural value chains and ensuring food security and education, with a STEM Focus to promote science, technology, engineering, and mathematics to drive innovation and human capital development.

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AFD’s CEO, Rémi Rioux, gave the assurance of the agency’s long-term commitment to Nigeria’s development, aligning with the government’s Renewed Hope Agenda. AFD pledged to support projects in energy access, agro-logistics hubs, MSME financing, and sustainable urban infrastructure. These initiatives are expected to foster job creation, improve livelihoods, and stimulate economic growth.

The agency also noted the importance of efficient project implementation to maximize the impact of these investments.

The partnership reflects the growing strength of Nigeria-France relations, emphasizing mutual commitment to sustainable development. The agreements guarantee AFD’s continued support for Nigeria’s transformative projects, fostering shared prosperity.

President Bola Ahmed Tinubu and his French counterpart, Emmanuel Macron, have taken bold steps to deepen bilateral relations between Nigeria and France by signing two critical agreements aimed at fostering infrastructure development and food security.

According to a statement issued by Special Adviser to the President on Information and Strategy, Bayo Onanuga, the milestone event took place during an economic Forum on Thursday at the Palais des Elysée in Paris, during President Tinubu’s state visit.

Earlier, President Tinubu and President Macron witnessed the signing of the agreement by the United Bank for Africa (UBA) Group Chairman Tony Elumelu and Mr. Antoine Armand, the French Minister of Economy, Finance and Industry for the bank to commence operations in Paris.

Zenith Bank also inaugurated its services in the country during the visit.

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and Mr. Armand signed the Letter of Intent.

According to the document: ”The two countries affirmed their commitment to work together on investment and development of critical infrastructure, healthcare transportation, agricultural value chain, renewable energy, and human capital development, through diverse financial and technical assistance programmes, of over Euros 300m spread across all geopolitical zones in the country.

“The two countries committed to forge a strategic relationship in project implementation and enhance mutual trade and cross border services by removing fiscal barriers while protecting labour rights.” 

The Minister of Finance, Edun, and Chief Executive Officer of the French Development Agency (AFD), Mr. Remi Rioux, signed another Letter of Intent to support the Renewed Hope Agenda reforms designed to stimulate and strengthen the economy.

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“The Declaration”, the document states, “ set out the enduring relationship between the AFD and the FRN, and the AFD’s continuing commitment to support the socio-economic growth of Nigeria through financing sustainable projects in urban infrastructure development, transportation network, housing infrastructure, human capital development through improved education specifically in STEM, agriculture, food security and healthcare.

“The AFD reaffirmed its commitment to long-term support of the Renewed Hope Agenda of Mr President on energy access and transition, sustainable agriculture and food security by financing the improvement of agro-logistic hubs. Importantly, the AFD committed to supporting the real sector by providing capital from MSME in high-impact sectors.

“The Federal Republic of Nigeria also affirmed its support for the projects financed by the AFD and committed to ensure that the implementation of the projects are expedited efficiently.”