Nigeria and the United States have signed a framework agreement to deepen American investment in Nigeria’s mining sector on the sidelines of the 18th UN General Assembly on Wednesday (23 Sep).
The agreement was signed by Nigeria’s Minister of Solid Minerals, Dele Alake, and US Deputy Secretary of State Christopher Landau. According to Alake, the framework will support cooperation across geological data, mineral exploration, processing, infrastructure and technical capacity.
Key developments:
- Nigeria said its mineral resources are valued at around US$700 billion.
- The agreement aims to identify investment projects and expand domestic mineral processing.
- Nigeria has significant deposits of lithium, gold, tin, iron ore, phosphate and gemstones.
Alake said the partnership supports President Bola Ahmed Tinubu’s Renewed Hope Agenda, with a focus on creating jobs, strengthening local industry and increasing value from Nigeria’s mineral resources.
ℹ️ DW News
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