France not taking over Nigeria’s mining industry — Presidency

The Presidency has clarified that France is not taking over Nigeria’s mining sector, solid minerals, or security rights, contrary to speculations circulating on social media.

The Special Adviser to President Bola Tinubu on Media and Public Communication, Sunday Dare, addressed the rumours in a statement on his official X account on Thursday night.
Recently, the governments of Nigeria and

France signed a Memorandum of Understanding (MoU) to develop joint projects aimed at promoting and diversifying the critical minerals value chain in the solid minerals sectors of both countries.

The MoU, signed during President Tinubu’s official visit to France, focuses on collaboration in research, training, and student exchange programmes between Franco-Nigerian institutions to facilitate knowledge and skills transfer.

The agreement, however, led to speculations on social media that France was strategizing to take over Nigeria’s mining and solid minerals industry.

Reacting to these claims, Dare explained that nowhere in the document was it agreed or suggested that Nigeria had signed away mining rights to France. He said that the MoU does not connote anything detrimental to Nigeria’s economic and security interests, as has been maliciously circulated.

He clarified that MoUs are not legally binding, allowing either party to exit the agreement or fail to meet the outlined requirements without consequences.

According to him, the MoU adheres to international global standards, with which Nigeria is compliant, and all procedures will be followed.

Dare, in a post titled “The Facts: Nigeria-France MOU on Critical Minerals,” provided further explanation:

“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,” he said.

“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 Tinubu recently, both countries agreed to collaborate on research, training, and Franco-Nigerian student 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 programs that reduce the environmental impact of mining on carbon emissions, water consumption, and climate change.”

Dare added that the MoU 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.

He explained that both parties agreed to adopt international best practices in executing programs and projects to improve the conditions of local communities affected by mining and to ensure transparency.

The MoU is also expected to open opportunities for remediating over 2,000 abandoned mining pits in Nigeria through its plans for environmental rehabilitation and post-mining projects.

Through regular bilateral and multilateral training, seminars, and events, Dare noted that administrators in the critical metals sector are expected to enhance their capacity to manage the sector’s value chain effectively.

Regarding the nature of MoUs, Dare, a former Minister of Sports and Youth Development, explained that they allow for the establishment of mutual intentions, ensuring clarity in each party’s goals and objectives.

“The finalisation of an MOU allows for having a paper trail or records of the terms negotiated toward finalisation,” he said.

“MOUs reduce levels of uncertainty between the involved parties because the document highlights the expectations and objectives, preventing possible future disagreements.”

He added that an MOU provides ease of exit, allowing any party that finds the objectives and goals unmet to end the agreement easily. Additionally, the document serves as a foundation for a possible future contract.