Nigeria, US sign pact to deepen mining investment
Nigeria and the United States have signed an agreement to deepen American investment in the country’s mining sector, valued at an estimated $700bn. Read More: https://punchng.com/nigeria-us-sign-pact-to-deepen-mining-investment/
The Federal Government of Nigeria and the United States have entered into an agreement to boost American investments in the country's mining sector and foster the development of Nigeria's mineral resources. This pact was signed by Dele Alake, the Minister of Solid Minerals Development, and Christopher Landau, the US Deputy Secretary of State, during the 81st United Nations General Assembly in New York.
Alake highlighted the significance of this agreement in a post on X, stating that the framework would address geological data and exploration, mineral development and processing, infrastructure, and technical capacity. Nigeria's mineral resources are valued at approximately $700 billion, according to Alake. He emphasized the importance of this framework in strengthening the Nigeria-US collaboration around their mineral resources.
Alake also expressed Nigeria's desire for more local processing, quality jobs, stronger skills, and greater opportunities for Nigerian businesses. The agreement reflects the Federal Government's ongoing efforts to attract foreign investment into the solid minerals sector and enhance local value addition.
Written by urgent.news from Punch's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Nigeria, US sign pact to deepen mining investment punchng.com
- The security risk beneath Nigeria’s mining boom businessday.ng
