Nigeria and the United States have signed a framework to deepen cooperation on geological exploration, mineral processing, infrastructure and technical capacity….reports Africa Daily News Desk
Nigeria and the United States have signed an agreement to deepen cooperation and attract greater American investment in Nigeria’s solid minerals sector, with a focus on exploration, processing, infrastructure and skills development.
The agreement was signed at the Nigerian Mission House in New York on the sidelines of the 81st United Nations General Assembly by Nigeria’s Minister of Solid Minerals Development Dele Alake and US Deputy Secretary of State Christopher Landau.
Alake said the framework would strengthen cooperation in geological data and exploration, mineral development and processing, infrastructure and technical capacity.
He said Nigeria’s mineral resources, valued by the government at about $700 billion, should generate greater value within the country rather than being exported mainly as raw materials.
“Nigeria cannot remain a source of raw materials while others capture most of the value. We want more local processing, quality jobs, stronger skills and greater opportunities for Nigerian businesses,” Alake said.
He said the agreement would be followed by efforts to identify viable projects, mobilise investment and develop partnerships capable of delivering economic benefits to Nigeria and its US partners.
The minister said the initiative would also support the economic diversification objectives of President Bola Ahmed Tinubu’s Renewed Hope Agenda and contribute to industrial development.
Landau said the agreement reflected a broader partnership between Nigeria and the United States, adding that Washington supported Nigeria’s efforts to develop its economy and mineral resources.
“The signal we are sending is that the United States and Nigeria are partners,” Landau said.
The framework comes as Nigeria seeks to attract more investment into its mining sector and increase local processing and value addition. Recent discussions between the two countries have focused on strengthening cooperation across the critical minerals value chain, including geological exploration, mining, processing and refining.
The signing took place alongside wider discussions on Africa’s mineral resources during the UN General Assembly. Alake, who chairs the Africa Minerals Strategy Group, has also called for greater African cooperation to develop mineral corridors and expand processing capacity on the continent.
The agreement is expected to provide a framework for further government and private sector engagement as Nigeria seeks to translate its mineral resources into investment, jobs, industrial development and greater economic value.
