Nigeria and the United States have taken a major step towards deepening bilateral economic ties by signing a landmark mineral investment agreement to unlock Nigeria’s estimated $700 billion solid minerals potential.
The agreement was signed at Nigeria’s Mission House in New York on Wednesday by Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, and the United States Deputy Secretary of State, Christopher Landau.
The new framework establishes a government-to-government foundation to drive business-to-business transactions, accelerate exploration, upgrade geological data, and expand technical capacity and local processing infrastructure across Nigeria’s mining sector.
A statement by the Special Adviser to Nigeria’s Solid Minerals Development Minister, Kehinde Bamigbetan, in Abuja on Thursday said Alake framed the pact as a long-term economic catalyst for Nigeria rather than a standard commercial deal.
‘Some agreements manage the present, and some agreements shape the future. The framework we sign today belongs to the second kind,’ Alake said. ‘In signing this Framework, Nigeria and the United States affirm a shared conviction: that the supply chains for these critical minerals must be secure, resilient, and built on responsible investment.’
Alake emphasised that Nigeria intends to move beyond being a mere exporter of unprocessed raw materials, stressing local capacity building as a central pillar of the agreement.
‘Let me be clear about Nigeria’s ambition. We are not here to remain a source of raw material for the values that others create. Our goal is to turn potential into lasting value at home through stronger local processing, new skills, quality jobs, and new opportunities for Nigerian businesses,’ he stated.
On next steps, the Minister said the pact’s success hinges on swift action to align with President Bola Ahmed Tinubu’s Renewed Hope Agenda for economic diversification.
‘Now comes the harder and more important work: moving from agreement to implementation. A signature is a promise, results are the proof. In the months ahead, we will identify viable projects, mobilise investments, and build the commercial partnerships that deliver measurable benefits to our nations,’ Alake added.
Responding on behalf of the United States government, Deputy Secretary of State Christopher Landau described Nigeria as a critical regional power whose market size and growth trajectory merit a deep strategic partnership.
‘The signal we are sending is that the United States and Nigeria are partners,’ Landau said, pointing to recent bilateral momentum. ‘Under President Trump and President Tinubu’s leadership, the United States and Nigeria have done many things together in the last one and a half years that we’ve never done before. I think we would like to keep building on that momentum.’
Key Nigerian officials witnessed the ceremony, including Lagos State Governor Babajide Sanwo-Olu; Permanent Secretary of the Ministry of Solid Minerals Development, Engr. Yusuf Yabo; Director-General of the Mining Cadastre Office, Engr. Simon Nkom; Executive Secretary of the Solid Minerals Development Fund, Hajiya Fatima Shinkafi; and Chief Executive Officer of the Nigeria Solid Minerals Company, Martin Imonitie.
The US delegation included senior diplomats and strategic advisors, such as Deputy Assistant Secretary for West African Affairs, Rich Michaels; Acting Deputy Assistant Secretary for Southern Africa, Foreign Assistance and Critical Minerals, Chris Kulukundis; Senior Policy Advisor Wyatt Toehlkeke; and Jitu Sardar.