Nigeria and the United States have signed a memorandum of understanding aimed at strengthening cooperation and investment in Nigeria’s solid minerals sector.
The agreement was signed on the sidelines of the 81st United Nations General Assembly in New York by Nigeria’s Minister of Solid Minerals Development, Dele Alake, and US Deputy Secretary of State Christopher Landau.
According to Channels Television, the framework will support collaboration in geological data and exploration, mineral development and processing, infrastructure, and technical capacity.
Alake described the agreement as a future-focused framework designed to promote secure and resilient critical mineral supply chains through responsible investment.
He said Nigeria’s objective was to move beyond exporting raw materials by increasing local processing, developing skills, creating quality jobs and expanding opportunities for Nigerian businesses.
The minister added that implementation of the agreement would support the economic diversification objectives of President Bola Tinubu’s Renewed Hope Agenda and contribute to industrial growth.
Landau said the United States viewed Nigeria as a regional power and expressed Washington’s willingness to support the country’s economic growth.
He said the agreement demonstrated that Nigeria and the US were partners and added that both countries intended to build on their recent cooperation.
Lagos State Governor Babajide Sanwo-Olu and senior officials from Nigeria’s mining sector attended the signing ceremony, alongside members of the US delegation.