Dele Alake Denies Sale of Nigerian Minerals to US

Dele Alake, the Minister of Solid Minerals Development, addressed allegations that Nigeria sold $700 billion worth of solid minerals to the United States. He clarified that Nigeria has established a bilateral agreement with the United States to attract investment and facilitate cooperation, not to transfer ownership of its mineral assets.

Alake made this statement on Wednesday after inaugurating the Nigeria-United States Committee on Strategic Cooperation in the Solid Minerals Sector. He emphasized that there is no sale of any Nigerian asset and that the committee was formed following a strategic cooperation framework established during the 81st United Nations General Assembly.

The Memorandum of Understanding signed between the two countries is intended to facilitate business-to-business engagements. Alake also dismissed claims that the United States would take control of Nigeria's mineral resources as misinformation.

He noted that Nigeria aims to change the dynamics of international economic transactions and has introduced policies requiring local processing of minerals by investors.