The security risk beneath Nigeria’s mining boom
Nigeria is betting that its vast mineral deposits can become a new source of investment, exports and industrial growth. But read more The security risk beneath Nigeria’s mining boom
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.
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