Nigeria and U.S. Sign Minerals Investment Framework

Nigeria and the United States have signed a framework to encourage U.S. investment and cooperation in Nigeria’s solid minerals sector, with local processing among its stated aims. Nigeria’s Minister of Solid Minerals Development, Dele Alake, and U.S. Deputy Secretary of State Christopher Landau signed and exchanged the framework at Nigeria’s Mission House in New York during the 81st United Nations General Assembly. The framework covers cooperation on geological data and exploration, mineral development and processing, infrastructure, and technical capacity, Alake said. It is intended to support government cooperation and create opportunities for commercial partnerships across the mineral value chain. The reports do not identify specific projects or financing commitments arising from the signing. Alake said Nigeria aims to retain more value from its mineral resources by expanding local processing, developing skills, creating jobs and increasing opportunities for Nigerian businesses. He said the framework could support economic diversification and industrial growth, and described implementation as the measure of its success.