By Joyce Ekeh
Nigeria and the United States have signed a framework agreement to deepen American investment in Nigeria’s mining sector and unlock the estimated $700 billion value of the country’s mineral resources.
The agreement, signed and exchanged by Minister of Solid Minerals Development, Dele Alake, and US Deputy Secretary of State, Christopher Landau, at Nigeria’s Mission House in New York on Wednesday, is expected to provide a framework for government-to-government cooperation that will facilitate business-to-business investment in the sector.
The partnership is also expected to strengthen Nigeria’s mineral value chain, with emphasis on local processing, infrastructure, technical capacity and value addition rather than continued dependence on the export of raw minerals.
Welcoming Landau and the US delegation, Alake described the agreement as a framework capable of shaping the future of Nigeria’s mining industry.
His words: “Some agreements manage the present, and some agreements shape the future. The framework we sign today belongs to the second kind.
“In signing this Framework, Nigeria and the United States affirm a shared conviction: that the supply chains for these critical minerals must be secure, resilient and built on responsible investment.
“But let me be clear about Nigeria’s ambition. We are not here to remain a source of raw material for the values that others create. Our goal is to turn potential into lasting value at home through stronger local processing, new skills, quality jobs, and new opportunities for Nigerian businesses.”
According to the minister, the framework will open opportunities for cooperation in geological data and exploration, mineral development and processing, infrastructure development and technical capacity building.
He said implementation of the agreement would support the economic diversification objectives of the Renewed Hope Agenda of President Bola Ahmed Tinubu while accelerating industrial growth.
Alake, however, said the success of the agreement would depend on translating the framework into concrete investment and commercial projects.
“Now comes the harder and more important work: moving from agreement to implementation. A signature is a promise, results are the proof.
“In the months ahead, we will identify viable projects, mobilise investments and build the commercial partnerships that deliver measurable benefits to our nations,” he said.
Responding, Landau said the United States recognised Nigeria as a regional power and expressed Washington’s readiness to support the country’s economic growth.
He said the agreement would create opportunities for greater prosperity in both countries.
“The signal we are sending is that the United States and Nigeria are partners,” Landau said.
He added: “Under President Trump and President Tinubu’s leadership, the United States and Nigeria have done many things together in the last one and a half years that we’ve never done before. I think we will like to keep building on that momentum.”
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.
Also present were Lagos State Governor, Babajide Sanwo-Olu; Permanent Secretary, Ministry of Solid Minerals Development, Engr Yusuf Yabo; Director-General, Nigerian Mining Cadastral Office, Engr Simon Nkom; Executive Secretary, Solid Minerals Development Fund, Hajiya Fatima Shinkafi; and Chief Executive Officer, Nigeria Solid Minerals Company, Martin Imonitie.
