Nigeria and US Forge $700bn Mining Investment Agreement
The federal government of Nigeria and the United States signed an agreement to boost American investment in Nigeria's mining sector, which is estimated to be worth about $700 billion. The agreement was signed by Dele Alake, the Minister of Solid Minerals Development, and Christopher Landau, the US Deputy Secretary of State, at the Nigeria Mission House in New York on the sidelines of the 81st United Nations General Assembly.
Alake announced that the framework would encompass geological data and exploration, mineral development and processing, infrastructure, and technical capacity. He emphasized that Nigeria aims to move beyond being a mere source of raw materials and seeks to enhance local processing, create quality jobs, and provide greater opportunities for Nigerian businesses.
Alake stated that in the coming months, the framework would be transformed into actionable projects and investments that would benefit both Nigerians and US partners.
Plus234Feed summary based on reporting from Leadership Newspaper. Read the original report below.
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