‘Interested in Investing!’ France Pledges Support for Nigeria’s Mining Sector

France has committed to supporting Nigeria’s mining sector by funding geological data exploration for the Nigerian Geological Survey Agency (NGSA).

This announcement was made during discussions between Nigeria’s Minister of Solid Minerals Development, Dele Alake, and France’s inter-ministerial delegate for strategic minerals, Benjamin Gallezot, at the Future Minerals Forum in Riyadh, Saudi Arabia.

The commitment is part of a Memorandum of Understanding (MoU) signed in December 2024 during President Bola Tinubu’s official visit to France. The agreement focuses on diversifying critical value chains in the solid minerals sectors of both nations.

Strengthening Collaboration
During the meeting, both parties resolved to share information on mining laws, compare cadastral management practices, and address illegal mining. Alake expressed gratitude to Gallezot for the swift development of the MoU despite time constraints, noting that recent efforts to counter misinformation about the partnership’s objectives have proven successful.

“The Future Minerals Forum provided a platform to advance the MoU by designing policies and programmes that remove doubts about the collaboration and generate positive outcomes,”

Alake stated.

Gallezot revealed that his department is currently vetting French companies interested in investing in Nigeria’s mining sector. Once the screening process is complete, a list of verified investors will be forwarded to Nigeria’s Ministry of Solid Minerals Development.

He also highlighted the potential for joint exploration projects between the geological agencies of both countries to build a comprehensive database.

Addressing Challenges in Nigeria’s Mining Sector
Olusegun Ige, Director-General of the NGSA, highlighted the need for advanced technological equipment to accelerate the exploration of Nigeria’s mineral resources.

“Our laboratory must be upgraded with the latest tools to analyze extracted rocks and generate precise information. Additionally, training and skills transfer are essential to develop local expertise with international exposure, as mining is a global business,”

Ige emphasized.

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Simon Nkom, Director-General of the Nigerian Mining Cadastral Office, called for a comparative analysis of mining laws in Nigeria and France to identify shared practices that could benefit Nigeria’s ongoing legal reforms. He urged French investors to seize the opportunities presented by the MoU to invest in Nigeria’s mining sector.

Fatima Shinkafi, Executive Secretary of the Nigerian Solid Minerals Development Fund (SMDF), proposed co-funding early-stage exploration projects between French financial institutions and the agency. She noted that the SMDF has gained significant historical data and best practices from its collaboration with the Africa Finance Corporation, which can be leveraged to support mining entrepreneurs in Nigeria.

France’s Commitment to Capacity Building
Christophe Poinssot, Deputy Director of the French Geological Agency, pledged to include Nigeria in France’s funding program for African geologists. Over 1,000 African geologists have benefited from this initiative over the past eight years, and Nigeria will now join the next phase.

“Nigeria will also benefit from France’s programme to empower mining countries by upgrading laboratories for geological analysis to meet international standards,”

Poinssot said.

Next Steps
Both nations have agreed to finalize the programme details and review its implementation during the annual Indaba mining conference in Cape Town, South Africa, next month. This collaboration is expected to open new avenues for Nigeria’s mining sector, driving economic growth and fostering sustainable development.