Nigeria and the United States have entered into a new framework agreement aimed at attracting increased American investment into Nigeria’s mining industry and accelerating the development of the country’s mineral resources estimated at $700 billion.
The agreement was signed on Wednesday at the Nigeria Mission House in New York by the Minister of Solid Minerals Development, Dele Alake, and the United States Deputy Secretary of State, Christopher Landau.
The signing was held on the sidelines of the 81st United Nations General Assembly.
The partnership is expected to strengthen cooperation between the two countries while creating opportunities for private-sector investment across Nigeria’s mining value chain.
Under the framework, both countries will collaborate in areas such as geological exploration and data, mineral development and processing, infrastructure, and technical capacity building.
The agreement comes amid renewed efforts by the Federal Government to reposition the mining sector as a major contributor to economic diversification and industrial development.
Nigeria has also been seeking to move away from the export of raw minerals by encouraging local processing and value addition.
Speaking after the signing, Alake said the framework represented a long-term commitment to transforming Nigeria’s mineral wealth into tangible economic benefits.
“Some agreements manage the present, and some agreements shape the future. The framework we sign today belongs to the second kind,” the minister said.
He said the government’s priority was to ensure that Nigeria derived greater value from its mineral resources through domestic processing, skills development, employment opportunities, and stronger participation by local businesses.
“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,” Alake said.
According to him, the agreement would deepen bilateral cooperation in exploration, mineral processing, infrastructure development, and technical expertise.
He, however, noted that the signing of the framework was only the beginning, stressing the need for concrete implementation.
“Now comes the harder and more important work: moving from agreement to implementation. A signature is a promise, results are the proof,” he said.
Alake said the Federal Government would begin identifying bankable projects, mobilising investments, and establishing commercial partnerships that could deliver measurable benefits to Nigeria and the United States.
Landau, on his part, described Nigeria as a regional power and reaffirmed the US commitment to strengthening its partnership with the country.
He said the agreement would create new opportunities for economic growth and prosperity in both countries.
“The signal we are sending is that the United States and Nigeria are partners,” Landau said.
The US official also said bilateral relations had gained momentum under Trump and President Bola Tinubu, adding that Washington was interested in further expanding the cooperation.
The development is expected to support Nigeria’s efforts to attract foreign capital into its mining industry, particularly in the exploration and processing of critical minerals.
The US delegation at the ceremony 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 Adviser to the Deputy Secretary, Wyatt Toehlkeke; and Jitu Sardar.
Others who witnessed the signing included Lagos State Governor, Babajide Sanwo-Olu; Permanent Secretary, Ministry of Solid Minerals Development, Yusuf Yabo; Director-General, Nigerian Mining Cadastral Office, Simon Nkom; Executive Secretary, Solid Minerals Development Fund, Fatima Shinkafi; and Chief Executive Officer, Nigeria Solid Minerals Company, Martin Imonitie.
