Nigeria and US Sign Mining Investment Framework

Nigeria and the United States have formalized a new framework to enhance cooperation in the mining sector, aimed at attracting increased American investment and maximizing the value of Nigeria’s mineral resources. This agreement was signed on Wednesday by Dele Alake, the Minister of Solid Minerals Development, and Christopher Landau, the United States Deputy Secretary of State, at the Nigeria Mission House during the 81st United Nations General Assembly.

Alake announced the agreement on X, detailing its focus on geological data and exploration, mineral development and processing, infrastructure, and technical capacity building. The Nigerian government estimates the country's mineral resources to be worth approximately $700 billion.

Alake emphasized the need for Nigeria to move beyond exporting raw minerals to retaining more value domestically, aiming for increased local processing, job creation, and opportunities for Nigerian businesses. The government plans to convert this framework into actionable projects and partnerships in the coming months.