FG Signs $700 Million Deal with German Firm to Boost Solid Mineral Exploration
The Federal Government of Nigeria has signed a memorandum of understanding (MOU) with the German company Geo-scan GmbH, involving an investment of $700 million in solid mineral deposits.
The German firm, known for its top-of-the-line geoscientific technology, will provide expertise and technology for exploration.
This partnership aims to significantly enhance mineral exploration efforts and increase the value of Nigeria’s solid mineral resources, which are estimated to be worth about $700 billion.
The technology provided by Geo-scan GmbH is expected to be more cost-effective and three times faster in identifying mineral deposits, potentially accelerating the development of the country’s mining sector.
The MOU is part of ongoing efforts to promote the exploration and exploitation of solid minerals in Nigeria and boost the nation’s Gross Domestic Product (GDP).
Additionally, the government is taking steps to develop Nigeria’s digital economy by investing in talent development.
The recently launched “3 Million Technical Talent” programme aims to train and employ millions of young technical professionals over the next four years, with an initial target of training 30,000 individuals.
The programme has already received over 550,000 applications, indicating a strong interest in technology-related careers.
This initiative is part of a broader effort to harness technology for the nation’s development and create quality jobs for Nigerian youth.
Source: The Sun Newspaper
