Nigeria's mineral minister, Dele Alake
The Federal Government has officially inaugurated the Nigeria-U.S. Committee on Strategic Cooperation in the Solid Minerals Sector to bolster foreign investment, boost technology transfer, and drive local mineral processing.
The Minister of Solid Minerals Development, Dr. Dele Alake, inaugurated the committee in Abuja following a strategic cooperation framework established between both nations at the 81st United Nations General Assembly in New York.
Addressing reports surrounding the agreement, Alake firmly dismissed claims that Nigeria had sold $700 billion worth of its mineral assets to the United States.
He clarified that the Memorandum of Understanding (MoU) signed between both countries serves as a government-to-government framework to facilitate business-to-business engagements between American investors and Nigerian mining operators, rather than a sale or transfer of national resources.
According to Alake, the partnership aligns with President Bola Tinubu’s commitment to diversifying the nation’s economy away from oil dependency and positioning Nigeria to achieve a $1 trillion economy.
“The administration of President Tinubu is committed to reducing dependence on a mono-product economy through the sustainable development of Nigeria’s vast mineral resources,” Alake said.
“We are creating a new paradigm: you bring your capital, expertise, and technology to match with our natural resources and create a win-win situation. The investor gains, Nigeria gains.”
Highlighting Nigeria’s critical minerals needed for the global energy transition, Alake emphasized that local value addition remains mandatory. The Federal Government now requires foreign and local investors to present a clear plan for in-country processing before obtaining mineral licenses, a policy that helped yield West Africa’s largest lithium processing plant in Nasarawa State.
Alake credited macroeconomic reforms under President Tinubu with restoring global investor confidence by offering security of tenure and smooth profit repatriation.
Speaking at the inauguration, Jonathan Baas, Economic Officer at the U.S. Embassy, noted that President Donald Trump has prioritized energy, artificial intelligence, and critical minerals for U.S. diplomatic engagements globally. Baas reaffirmed that the United States aims to build secure critical mineral supply chains while ensuring partner nations derive maximum economic value from their resources.
The newly inaugurated committee is chaired by Mr. Martins Imonitie, Managing Director of the Nigeria Solid Minerals Corporation, with Dr. Esther Udo, Director of Investment Promotion and Mineral Trade (IPMT), serving as Secretary. Alake charged the committee with identifying key investment opportunities and translating the bilateral agreement into measurable, high-impact outcomes for Nigeria’s mining industry.
