The Federal Government has signed a Memorandum of Understanding MoU with a German Geo-Scientific Technology company to locate more mineral deposits in Nigeria.
The Ministry of Solid Minerals Development, Dele Alake disclosed this on Monday after the Federal Executive Council (FEC) meeting which was held at the Presidential Villa in Abuja.
Alake, who revealed that the signing took place during the German chancellor’s Olaf Scholz visit to President Bola Tinubu on Sunday, added that the MoU was part of the Solid Minerals Development Fund (SMDF).
According to him, the partnership aims at enhancing mineral exploration and information gathering.
He said, “Yesterday you were all aware and even attended the visit of the German chancellor to our president. Of course, the German Chancellor came in to strengthen bilateral relations between our two countries, Nigeria and Germany.
“Now for quite a while, my ministry has been talking to some highly technical companies in Germany. And since the visit of the German Chancellor yesterday underscored the importance of strengthening bilateral relations, especially socio-economic bilateral relations.
“I’m happy to announce that the Ministry of Solid Minerals broke a landmark record of signing an MOU with one of the top-notch geo scientific technology companies in the world, which is Geo-scan GmbH, is a German company and the company was also in the delegation of the German Chancellor yesterday and the MOU was signed yesterday through the SMDF that is the solid minerals development fund.
It would be recalled that Scholz arrived at the Presidential Villa in Abuja at about 3:39 p.m., following which both leaders exchanged pleasantries and walked into a private discussion.
Scholz is visiting Nigeria to strengthen bilateral relations between Germany and the Federal Republic of Nigeria.
Speaking about the potential benefits that Germany and Nigeria hope to achieve, Scholz stated that supporting the development of Nigeria’s economy and mineral resource sectors while avoiding environmental damage is a key component of collaboration with Nigeria.
The German Chancellor said that he has been concerned about the growth of the mining industry in Nigeria for some time, as it has primarily concentrated on extraction.
He emphasised the need for more work to be done to ensure that the mining industry in Nigeria contributes more to economic development.
Speaking further, Scholz stated that this is a crucial area in which the governments of Germany and Nigeria would work together to grow the Nigerian economy around its mineral resources.