Follow Us on Google
Nigeria and the United States have signed a framework agreement to deepen American investment in Nigeria’s mining sector and unlock the country’s estimated $700 billion mineral resources.
The agreement was signed and exchanged by the Minister of Solid Minerals Development, Dele Alake, and US Deputy Secretary of State, Christopher Landau, at Nigeria’s Mission House in New York.
The framework is expected to leverage the Nigeria-US government relationship to facilitate business-to-business transactions and promote value addition across Nigeria’s mineral value chain.
Alake described the agreement as a pact that would shape the future of Nigeria’s mining industry, stressing that the country was determined to move beyond the export of raw minerals.
“We are not here to remain a source of raw material for the values that others create. Our goal is to turn potential into lasting value at home through stronger local processing, new skills, quality jobs, and new opportunities for Nigerian businesses,” he said.
According to the minister, the framework provides opportunities for cooperation in geological data and exploration, mineral development and processing, infrastructure and technical capacity.
He said its implementation would support the economic diversification objectives of President Bola Ahmed Tinubu’s Renewed Hope Agenda and stimulate industrial growth.
Alake said the focus would now shift from signing the agreement to implementing concrete projects.
Other News
“A signature is a promise, results are the proof. In the months ahead, we will identify viable projects, mobilise investments and build the commercial partnerships that deliver measurable benefits to our nations,” he said.
Responding, Landau said the United States viewed Nigeria as a strategic partner, describing the country as Africa’s most populous nation and a regional power.
He said the pact would contribute to greater prosperity for both countries, adding that the US was prepared to support Nigeria’s economic growth.
“The signal we are sending is that the United States and Nigeria are partners,” Landau said.
He added that under Presidents Donald Trump and Bola Tinubu, both countries had achieved unprecedented cooperation over the past one and a half years.
Among US officials at the ceremony were Deputy Assistant Secretary for West African Affairs, Rich Michaels; Acting Deputy Assistant Secretary for Southern Africa, Foreign Assistance and Critical Minerals, Chris Kulukundis; Senior Policy Adviser to the Deputy Secretary, Wyatt Toehlkeke; and Jitu Sardar.
Lagos State Governor Babajide Sanwo-Olu; Permanent Secretary, Ministry of Solid Minerals Development, Engr Yusuf Yabo; Director-General, Nigerian Mining Cadastre Office, Engr Simon Nkom; Executive Secretary, Solid Minerals Development Fund, Hajiya Fatima Shinkafi; and Chief Executive Officer, Nigeria Solid Minerals Company, Martin Imonitie, witnessed the signing.
