Nigeria and the United States have signed a framework agreement to attract American investment into Nigeria’s estimated $700 billion mineral sector and strengthen cooperation in exploration, processing and critical mineral development.
Nigeria’s Minister of Solid Minerals Development, Dele Alake, and the US Deputy Secretary of State, Christopher Landau, signed and exchanged the agreement at a ceremony at Nigeria’s Mission House in New York.
The framework is designed to leverage the Nigeria-US government relationship to promote business-to-business partnerships and develop a value-addition-driven mining value chain in Nigeria.
Speaking at the ceremony, Alake said the agreement marked a significant step towards transforming Nigeria’s mineral resources into sustainable economic opportunities.
“Some agreements manage the present, and some agreements shape the future. The framework we sign today belongs to the second kind,” Alake said.
He said; “Nigeria’s objective was not to remain a supplier of raw minerals but to develop local processing, create jobs, build technical skills and expand opportunities for Nigerian businesses.”
According to the Minister, “the framework provides for cooperation in geological data and exploration, mineral development and processing, infrastructure, and technical capacity building.”
He said its implementation would support the economic diversification objectives of President Bola Ahmed Tinubu’s Renewed Hope Agenda and contribute to industrial growth.
Alake stressed that the next phase would be focused on implementation, including identifying viable projects, mobilising investment and developing commercial partnerships.
“A signature is a promise, results are the proof,” he said.
Responding, Landau said the United States viewed Nigeria as a key partner, describing the country as Africa’s fastest-growing economy and most populous nation.
He said the agreement was intended to promote greater prosperity in both countries and reaffirmed Washington’s support for Nigeria’s economic development.
“The signal we are sending is that the United States and Nigeria are partners,” Landau said.
He added that the two countries had expanded their cooperation under Presidents Donald Trump and Bola Ahmed Tinubu and expressed support for further collaboration.
Members of the US delegation included 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 Advisor to the Deputy Secretary, Wyatt Toehlkeke; and Jitu Sardar.
Lagos State Governor Babajide Sanwo-Olu; Permanent Secretary, Ministry of Solid Minerals Development, Yusuf Yabo; Director-General, Nigerian Mining Cadastral Office, Simon Nkom; Executive Secretary, Solid Minerals Development Fund, Hajiya Fatima Shinkafi; and Chief Executive Officer, Nigeria Solid Minerals Company, Martin Imonitie, witnessed the signing.
