{"id":129651,"date":"2026-09-24T12:02:23","date_gmt":"2026-09-24T11:02:23","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=129651"},"modified":"2026-09-24T12:02:23","modified_gmt":"2026-09-24T11:02:23","slug":"700bn-mineral-wealth-nigeria-us-move-to-boost-local-processing","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/700bn-mineral-wealth-nigeria-us-move-to-boost-local-processing\/","title":{"rendered":"$700bn Mineral Wealth: Nigeria, US Move to Boost Local Processing"},"content":{"rendered":"

By Tracy Moses<\/strong><\/p>\n

Nigeria and the United States have signed a framework agreement aimed at attracting greater American investment into Nigeria\u2019s solid minerals sector and promoting the local processing of the country\u2019s mineral resources, estimated by the Federal Government at $700 billion.<\/p>\n

The agreement was signed and exchanged at Nigeria\u2019s Mission House in New York by the Minister of Solid Minerals Development, Dele Alake, and the United States Deputy Secretary of State, Christopher Landau, on the sidelines of the 81st United Nations General Assembly.<\/p>\n

The framework is expected to deepen government-to-government cooperation and create opportunities for business-to-business partnerships across the mineral value chain, including geological exploration, mineral development and processing, infrastructure and technical capacity building.<\/p>\n

Alake described the agreement as a framework capable of shaping the future of Nigeria\u2019s mining industry, stressing that the country was determined to move beyond the export of raw minerals.<\/p>\n

\u201cSome agreements manage the present, and some agreements shape the future. The framework we sign today belongs to the second kind,\u201d the minister said.<\/p>\n

He said the agreement reflected a shared commitment by both countries to developing secure and resilient critical-mineral supply chains based on responsible investment.<\/p>\n

According to Alake, Nigeria\u2019s objective is to retain more value from its mineral resources through local processing, skills development, job creation and increased opportunities for Nigerian businesses.<\/p>\n

\u201cBut let me be clear about Nigeria\u2019s ambition. We are not here to remain a source of raw material for the value 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,\u201d he said.<\/p>\n

Alake said the framework would facilitate cooperation in geological data and exploration, mineral development and processing, infrastructure development and technical capacity building.<\/p>\n

He said the initiative would support the Federal Government\u2019s economic diversification agenda and contribute to industrial growth.<\/p>\n

The minister, however, stressed that the signing marked only the beginning, saying the real test would be how quickly the framework translated into actual projects and investments.<\/p>\n

\u201cNow comes the harder and more important work: moving from agreement to implementation. A signature is a promise, results are the proof,\u201d he said.<\/p>\n

Alake added that Nigeria would identify viable projects, mobilise investments and establish commercial partnerships capable of delivering measurable benefits to both countries.<\/p>\n

The agreement comes amid renewed efforts by the Federal Government to attract foreign capital into the mining sector and develop domestic processing capacity as part of its broader strategy to diversify the economy beyond oil.<\/p>\n

Nigeria has increasingly emphasised value addition in the solid minerals sector, with government officials highlighting the potential of local processing and industrial development to create jobs, build technical expertise and retain a greater share of the value generated from the country\u2019s mineral resources.<\/p>\n

For the United States, the partnership also provides an avenue for deeper engagement with Nigeria\u2019s critical minerals sector and the development of more secure and diversified mineral supply chains.<\/p>\n

Speaking at the ceremony, Landau described Nigeria as a regional power deserving of a stronger partnership with the United States, citing its population and economic potential.<\/p>\n

He said the agreement would create opportunities for greater prosperity in both countries and reaffirmed Washington\u2019s willingness to support Nigeria\u2019s economic growth.<\/p>\n

\u201cThe signal we are sending is that the United States and Nigeria are partners,\u201d Landau said.<\/p>\n

He added that under the leadership of US President Donald Trump and President Bola Ahmed Tinubu, both countries had achieved new levels of cooperation over the preceding 18 months.<\/p>\n

\u201cI think we will like to keep building on that momentum,\u201d he said.<\/p>\n

The US delegation at the ceremony included 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 to the Deputy Secretary, Wyatt Toehlkeke; and Jitu Sardar.<\/p>\n

The event was witnessed by Lagos State Governor Babajide Sanwo-Olu; Permanent Secretary, Ministry of Solid Minerals Development, Yusuf Yabo; Director-General, Nigerian Mining Cadastre Office, Simon Nkom; Executive Secretary, Solid Minerals Development Fund, Fatima Shinkafi; and Chief Executive Officer, Nigeria Solid Minerals Company, Martin Imonitie.<\/p>\n

The agreement places implementation at the centre of the emerging Nigeria-US mining partnership, with its success ultimately depending on the development of viable projects, mobilisation of capital and expansion of local processing capacity.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Tracy Moses Nigeria and the United States have signed a framework agreement aimed at attracting greater American investment into Nigeria\u2019s solid minerals sector and promoting the local processing of…<\/p>\n","protected":false},"author":1,"featured_media":129653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-129651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n$700bn Mineral Wealth: Nigeria, US Move to Boost Local Processing - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/700bn-mineral-wealth-nigeria-us-move-to-boost-local-processing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$700bn Mineral Wealth: Nigeria, US Move to Boost Local Processing - 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