Nigeria and France signed a memorandum of understanding to develop joint projects to promote critical minerals in the solid minerals sector of both countries.

The partnership will open the possibility of rehabilitating more than 2,000 abandoned mines in the country through plans for environmental rehabilitation and intervention after mining projects, said a statement signed by Segun Tomori, special assistant to the minister in charge of media, said in a statement signed by Segun Tomori, special assistant to the minister in charge of media, consulted by BusinessDay on Sunday.

The agreements signed include a partnership declaration setting common priorities in several sectors: cultural industries, agriculture, food security, food security, Francophonie, and defence cooperation. This text also provides for the reactivation of a Franco-Nigerian dialogue forum for regular monitoring. The Élysée qualifies this document as a tool to “respond together to the many common challenges”, but the concrete details of implementation remain

A second agreement, signed between the finance ministers of the two countries, focuses on bilateral investments in priority sectors such as energy infrastructure and public transport in Lagos. While Nigeria is France's main trading partner in sub-Saharan Africa, representing 20% of its trade with this region, French exports to the country (640 million euros in 2023) still show limited potential. This agreement aims to boost trade flows

The memorandum of understanding with the Nigerian bank UBA provides for the opening of a subsidiary in Paris, an initiative that could, according to the French authorities, strengthen financial ties between the two countries.

Finally, an engagement between the French Development Agency (AFD) and the Nigerian Government aims to support the country's development agenda, by targeting areas such as urbanization, vocational training and agriculture. AFD, active in Nigeria for several decades, has already invested in projects totalling more than 2.2 billion euros there