Nigerian Minister of Solid Minerals Development, Dr. Oladele Alake and United States Assistant Secretary for Energy and Natural Resources, Mr. Geoffrey Pratt have agreed to set up a team of officials of both countries to explore financing for credit to mining firms and infrastructures to boost mining activities in Nigeria.
Mr. Geoffrey Pratt stated this during his visit to the Minister of solid minerals development, Dr. Oladele Alake in Abuja, the nation’s capital.
Mr. Pratt. said the move followed an earlier meeting with President Bola Ahmed Tinubu who sought the support of the US for the country’s economic revival.
He said the US would like to be Nigeria’s partner of choice in developing solid minerals sector and US is interested in the reforms announced by the Minister in his address at the plenary of the conference, noting that the United States has various institutions and laws which encourage direct foreign investment.
The US assistant Secretary for energy and natural resources reiterated that US would notify the agencies which are to collaborate with their Nigerian counterparts to work out the framework to move the sector forward.
Responding, Nigerian Minister of solid minerals development, Dr. Oladele Alake said the gesture was music to his ears as the Ministry of Solid Minerals Development has launched a seven-point agenda as its roadmap to reposition the sector.
He highlighted the establishment of the new Solid Minerals Development Company, a new security architecture to ensure safety of mine operations and data generation on a massive scale to reduce risks in the sector.
Dr. Alake said the credit facility and foreign direct investment promised by the United States would be in the mutual interest of both countries because energy minerals such as lithium are critical to the global crusade for clean energy and necessary for the manufacture of electric cars.
Also speaking at the meeting, the executive secretary of the Nigerian Solid Minerals Fund, Hajiya Fatima Shinkafi, commended the US for investment in mining infrastructures in Africa urging a similar partnership with the Fund in minerals sector.
