Nigeria, US Sign Mineral Investment Pact

The Federal Government and the United States of America have signed a memorandum of understanding to boost the development of Nigeria’s Solid Minerals Sector. 

The agreement was signed on the sidelines of the 81st United Nations General Assembly between the Minister of Solid Minerals Development, Dele Alake, and the US Deputy Secretary of State, Christopher Landau, at the Nigerian Mission House in New York, United States.

Speaking during the event, Alake described the agreement as a future-driven framework that opens the way for both countries to collaborate on geological data and exploration, mineral development and processing, infrastructure, and technical capacity.

Furthermore, he stated that the framework affirms a shared conviction for both countries that the supply chains for the 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 value 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.”

The Minister also stated that the implementation will achieve the economic diversification goals of the Renewed Hope Agenda of President Bola Ahmed Tinubu and boost industrial growth.

While speaking on the development, the Deputy Secretary of State Landau expressed strong agreement with Nigeria’s position, adding that as Africa’s fastest-growing economy and most populous country, Nigeria is a regional power that deserves partnership with the United States.

He affirmed that the agreement will bring greater prosperity to both countries and that the United States is happy to supportNigeria’s economic growth.

“The signal we are sending is that the United States and Nigeria are partners.

“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 would like to keep building on that momentum”, he said.

Also present at the event from Nigeria are the Lagos State Governor Babajide Sanwo-Olu, Permanent Secretary, Ministry of Solid Minerals Development, Yusuf Yabo, Director-General, Nigerian Mining Cadastral Office, Simon Nkom, Chief Executive Officer, Nigeria Solid Minerals Company, Martin Imonitie, and Executive Secretary, Solid Minerals Development Fund, Fatima Shinkafi. While on from the U.S. delegation, the Deputy Assistant Secretary for West African Affairs, Rich Michael, Acting Deputy Assistant Secretary for Southern Africa, Foreign Assistance and Critical Minerals, Chris Kulukund; Senior Policy Advisor to the Deputy Secretary, Wyatt Toehlkeke, and Jitu Sardar