§ 52. Mr. Rankinasked the Secretary of State for the Colonies whether he will make a statement on the agreement concluded between the Nigerian Government and the United Africa Company on mineral royalties.
§ Mr. J. GriffithsAn agreement was reached in January of this year between the Nigerian Government and the United Africa Company whereby the Company's right to receive a half share of mineral royalties from a large area of Northern Nigeria was bought by the Government for £1 million sterling. The agreement was approved by the Finance Committee of the Nigerian Legislative Council, and payment has been made.
§ Mr. RankinIs my right hon. Friend aware that this agreement will be warmly welcomed by everyone who has the interest and the welfare of the African at heart?