The Presidency has debunked rumours circulating on social media that France is taking over Nigeria’s mining sector.

According to Special Adviser to the President on Media and Public Communication, Sunday Dare, Nigeria did not sign away its mining rights during President Bola Tinubu’s recent state visit to France.

Recall that a Memorandum of Understanding (MOU) was signed between Nigeria and France to develop joint projects that promote and diversify both countries’ critical minerals value chains in the solid minerals sector. However, this led to speculation online that France was planning to take over Nigeria’s mining sector.

Dare clarified that the MOU is focused on promoting sustainable mining activities, reducing environmental impact, and establishing joint extractive and processing projects.

He said, “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,” he added.