Nigeria and the United States have reached an agreement to deepen American investment in Nigeria’s mining sector, the Ministry of Solid Minerals Development announced on Thursday.
The framework, signed in New York by Nigeria’s Minister of Solid Minerals, Dele Alake, and US Deputy Secretary of State Christopher Landau, is aimed at unlocking opportunities in Nigeria’s estimated $700 billion mineral resources.
The signing took place on the sidelines of the UN General Assembly.Alake stressed that the partnership would go beyond raw material exports, focusing instead on local processing, job creation, and skills development.
“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,” he said.
Nigeria holds significant deposits of lithium, gold, tin, gemstones, iron ore, and phosphate. Lithium, in particular, has attracted global interest as a critical component for batteries in the transition to clean energy.
The US is seeking to diversify its supply chain for critical minerals amid restrictions on rare earth exports by China.
According to the ministry, the agreement will leverage Nigeria-US government relations to facilitate business-to-business transactions in mining and mineral processing.
Despite past diplomatic tensions, including disputes over security issues, the accord signals renewed cooperation between Washington and Abuja, with both sides keen to strengthen economic ties while addressing strategic resource needs.
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