Nigeria and the United States have signed a major bilateral agreement to expand American investment in Nigeria’s mining sector and accelerate the development of the country’s vast solid mineral resources, estimated at $700 billion.
The bilateral framework was signed on Wednesday at the Nigeria Mission House in New York by Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, and US Deputy Secretary of State Christopher Landau, on the sidelines of the 81st United Nations General Assembly.
The newly established partnership sets out a comprehensive blueprint for bilateral cooperation across several critical areas, including geological data collection and exploration, mineral development and processing, mining infrastructure, and technical capacity building.
Speaking at the signing ceremony, Minister Alake highlighted the necessity of shifting Nigeria away from the legacy model of raw material extraction toward domestic value addition.
“Nigeria cannot remain a source of raw materials while others capture most of the value,” Alake stated. “We want more local processing, quality jobs, stronger skills, and greater opportunities for Nigerian businesses.”
Alake emphasised that the primary focus over the coming months will be executing the agreement through concrete, commercially viable initiatives.
The ministry plans to identify key mineral projects and structure joint venture partnerships that generate measurable returns for both Nigerian stakeholders and US investors.
US Deputy Secretary of State Christopher Landau affirmed Washington’s commitment to supporting Nigeria’s economic growth, recognising the West African nation as a pivotal regional partner.
Landau noted that the agreement reinforces a growing economic alignment between both nations aimed at building resilient and transparent critical mineral supply chains.
The landmark agreement aligns directly with the economic diversification strategy under President Bola Ahmed Tinubu’s Renewed Hope Agenda, which seeks to reduce the nation’s historical reliance on crude oil revenue by positioning the solid minerals sector as a central pillar of industrial expansion and long-term economic resilience.
