An opinion Piece published in This Day reviews the Mining Pact between Nigeria and France. The Article written by ABIODUN J. OLUWADARE reviews the content of the pact.
Oluwadare states that the recent agreement between France and Nigeria to collaborate on mining exploration and business ventures presents both promise and peril. It offers Nigeria a chance to diversify its oil-dependent economy by leveraging its abundant mineral wealth. With France’s advanced technology and expertise, this partnership could help modernise Nigeria’s mining sector, boosting revenue, creating jobs, and attracting foreign investment.
However, this opportunity comes with significant risks. Recent controversies surrounding France’s role in other West African nations—where allegations of neocolonialism and resource exploitation abound—serve as a cautionary tale. Nigeria must avoid repeating the mistakes of the Niger Delta, where multinational oil companies were accused of environmental degradation and exploitation.
Key measures for success include strengthening regulatory frameworks, building indigenous mining capacity, involving local communities, and employing advanced technology for transparency and accountability. Additionally, vigilance against corruption and illegal mining is paramount.
While this pact holds potential to transform Nigeria’s economy, success depends on proactive governance, local empowerment, and an unwavering commitment to national sovereignty. As Professor Abiodun J. Oluwadare aptly notes, Nigeria must approach the agreement strategically, learning from history while navigating present geopolitical challenges.