The Traffic

France Backs Nigeria’s Mining Revolution with Major Investment Pledge

By Achimi muktar

In a significant boost to Nigeria’s mining sector, French Ambassador to Nigeria, Marc Fonbaustier, has pledged France’s full support for the country’s mining roadmap, reaffirming France as a key ally in Nigeria’s solid minerals development.

During a high-level meeting with Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, in Abuja, Fonbaustier expressed France’s keen interest in investing in Nigeria’s rapidly growing solid minerals industry. According to a statement by the Minister’s Senior Special Assistant on Media, Segun Tomori, the French envoy emphasized France’s commitment to implementing tangible projects that will drive the sector’s expansion.

Minister Alake acknowledged France’s proactive role as one of the leading stakeholders eyeing Nigeria’s mineral resources, praising the country’s enthusiasm and readiness to partner on long-term projects. He highlighted that President Bola Ahmed Tinubu’s administration prioritizes economic diversification, with solid minerals playing a central role in reducing Nigeria’s dependence on oil.

Alake also emphasized the importance of continued engagement with France to identify serious investors while refining collaboration efforts based on an existing Memorandum of Understanding (MoU) signed between both countries. The MoU, established last year following President Tinubu’s visit to France, focuses on promoting and diversifying Nigeria’s critical minerals value chain. It includes key areas such as technical assistance, capacity building, and remediation of abandoned mining sites.

Strengthening this commitment, Deputy Head of the Regional Economic Department of the French Embassy, Carole Libreton, assured that France is ready to fund strategic projects in Nigeria’s mining sector. She also emphasized France’s role in mobilizing top French companies to contribute to Nigeria’s mining value chain development.

Joining Ambassador Fonbaustier on this crucial visit were the French Embassy’s Head of Regional Economic Department, Florent Mangin, and Deputy Head Carole Libreton. With France now signaling strong financial and technical backing, Nigeria’s mining sector may be on the brink of a major transformation.