The Federal Government has granted Morrocan company, OCP Group, rights to mine phosphates in Sokoto State.
“As an extension to the Presidential Fertilizer Initiative (PFI), Nigeria’s Solid Minerals Development Fund (SMDF) & Morocco’s OCP Group yesterday October 9, 2019 signed a technical co-operation agreement to mine & develop Nigeria’s phosphate reserves located in the Sokoto Basin,” the Federal Government announced this morning.
According to the FG’s statement, the SMDF and OCP will leverage on their mutual capabilities, technical know-how, engineering capabilities, experience, and make use of the expertise of their longstanding partners to develop Nigeria’s phosphate reserves.
The Agreement covers the following areas:
(i) technical cooperation in the field of phosphates
(ii) support of SMDF effort to develop phosphate mining in Nigeria, and
(iii) training and academic exchanges.
The Solid Minerals Development Fund (SMDF) has prioritized phosphate for solid minerals development in Nigeria due to a presence of reserves and the potential for direct application of Nigeria’s reactive phosphate on the country’s acidic soil.
President Muhammadu Buhari recently directed the Solid Minerals Development Fund (SMDF) to drive the development of Nigeria’s phosphate and potash reserves as an extension of the Presidential Fertilizer Initiative (PFI)
The Solid Minerals Development Fund (SMDF) is a government fund established to drive investments in Nigeria’s mining sector. It was established in 2007 through the 2007 Minerals and Mining Act, but was not operationalized until the President Buhari Administration.