Business
Niger becomes oil producer
Oil reserves in Niger, one of the world’s poorest countries despite being a top uranium producer, are estimated at 480 million barrels.
The contract signed by then-president Mamadou Tandja in 2008, two years before he was deposed in a military coup, awards 40 percent of production to the government of Niger and 60 percent to the Chinese company.
Junta chief General Salou Djibo handed over power to Issoufou, an elected civilian president, in April.
Non-governmental bodies have asked Issoufou’s government to review the contract, alleging a lack of transparency.
“The most important thing is that our oil resources benefit the people of Niger, especially the majority in the rural areas who need education, health care and roads,” Issoufou said at the ceremony.
Since 2006, China has reinforced its economic ties with the former French colony, helping it tap its vast uranium wealth in the northern Agadez region.
Agadez is under threat from Al-Qaeda in the Islamic Maghreb (AQIM), which is holding four hostages abducted from a site there of French nuclear energy giant Areva in September last year.
Copyright 2011 AFP.
