Nigeria and the United States (US) have signed an agreement which will “deepen” the investment of America in the mining sector of Nigeria.
The signing of the agreement was done on Wednesday 23 September, 2026 in New York, US, as made known by the Nigerian Minister of Solid Minerals, Dele Alake, via X.
The Minister described the agreement as an “important step” that will help enhance the cooperation between Nigeria and the United States (US).
The relationship between the two (2) countries in Nigeria’s mineral resources is valued at “$700 billion” as it covers “mineral development and processing”.
Alake announced: “On Wednesday at the Nigeria Mission House in New York, US Deputy Secretary of State Christopher Landau and I signed an agreement to deepen American investment in Nigeria’s mining sector.”
He said: “This is an important step in strengthening Nigeria-US cooperation around our mineral resources, valued at about $700 billion. The framework covers geological data and exploration, mineral development and processing, infrastructure, and technical capacity.”
The Minister said, the aim of the agreement is to bolster “local processing”, as well as, the creation of “quality jobs”. The cooperation will also help “create values” for the people of Nigeria.
Alake said: “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.
“In the coming months, we will turn this framework into projects, investments and real results for our people. We will identify viable projects and build partnerships that create value for Nigerians and our US partners.”
He said, the agreement signed with the US will convert Nigeria’s “mineral wealth” to “lasting economic growth”. It will also move forward the “diversification goals” of the Renewed Hope Agenda of President Bola Ahmed Tinubu.
The Minister said: “This is how we turn our mineral wealth into lasting economic growth and advance the diversification goals of President Bola Ahmed Tinubu’s Renewed Hope Agenda.”
