The Federal Government and the United States have signed an agreement to deepen American investment in Nigeria’s mining sector and promote greater development of the country’s mineral resources.
The agreement was signed by the Minister of Solid Minerals Development, Dele Alake, and the US Deputy Secretary of State, Christopher Landau, at the Nigeria Mission House in New York on Wednesday, on the sidelines of the 81st United Nations General Assembly.
Alake announced the development in a post on X on Thursday, saying the framework would cover geological data and exploration, mineral development and processing, infrastructure and technical capacity.
Nigeria’s mineral resources are estimated by the government at about $700bn, according to Alake.
Alake 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.
