Politics
Nigeria Inks Deal With Germany For Massive $700bn Mineral Revenue
The Federal Government has reached an agreement with the Republic of Germany to investigate and harness mineral reserves, which are projected to yield over $700 billion in revenue for the nation…CONTINUE READING....KINDLY READ THE FULL STORY HERE▶
Minister of Solid Minerals Development, Dele Alake, revealed this information to the press shortly after the Federal Executive Council meeting chaired by President Bola Tinubu on Monday.
Alake explained that the Federal Government finalized the agreement during the visit of German Chancellor, Otaf Scholz, on Sunday, and a Memorandum of Understanding (MOU) has been formally signed.
The Minister also disclosed that the German experts will introduce state-of-the-art technology into the field of mineral exploration, with the equipment’s capability to detect mineral deposits as deep as 10,000 meters below the earth’s surface.
Alake noted, “You are likely aware of the visit by the German Chancellor to Nigeria, which aimed to strengthen the bilateral relations between our two countries, Nigeria and Germany.
For some time, my Ministry has been engaged in discussions with highly specialized German companies.
The visit of the German Chancellor on Sunday emphasized the significance of enhancing socioeconomic bilateral relations.”
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