Nigeria and the United States have signed a mining investment agreement aimed at attracting deeper American investment and unlocking more value from Nigeria’s mineral resources.
The agreement was signed on Wednesday at the Nigeria Mission House in New York by Minister of Solid Minerals Development, Dele Alake, and US Deputy Secretary of State, Christopher Landau.
The framework covers geological data and exploration, mineral development and processing, infrastructure, and technical capacity.
Alake said Nigeria’s mineral resources are estimated at about $700 billion, stressing that the country must move beyond exporting raw materials and ensure more value is created locally.
He said the focus is on expanding local processing, creating quality jobs and opening stronger opportunities for Nigerian businesses across the mining value chain.
The agreement is expected to deepen Nigeria-USA cooperation in mining and support efforts to turn the country’s mineral wealth into greater economic opportunities.