Nigeria’s Minister of Solid Minerals Development, Dr Dele Alake, has inaugurated a Nigeria-US Committee to strengthen strategic cooperation and attract investment into the country’s solid minerals sector.
The Committee follows a cooperation framework established between the two countries at the 81st United Nations General Assembly in New York.
Dr Alake dismissed reports that Nigeria had sold $700 billion worth of mineral assets to the United States, clarifying that the agreement was intended to facilitate investment and technology transfer rather than the sale of the country’s mineral resources.
He said the MoU (Memorandum of understanding) provided a Government-to-Government platform for business engagements between American investors and Nigerian mining operators.
According to him, the partnership is expected to promote local mineral processing, create jobs and reduce Nigeria’s dependence on oil. Dr Alake said the government had made local processing a requirement for mineral development, with investors expected to demonstrate plans to process minerals domestically before receiving mining licences.
He cited the establishment of processing facilities, including a lithium processing plant in Nasarawa State, as evidence of efforts to increase value addition in the sector. The minister urged the Committee to identify investment opportunities and translate the agreement into measurable outcomes to support President Bola Tinubu’s ambition of building a $1 trillion economy.
Jonathan Baas, an economic officer at the US Embassy, said President Donald Trump had prioritised energy, IA (Artificial intelligence) and critical minerals as key areas of engagement for American diplomatic missions.
He said the United States was seeking partnerships to secure critical mineral supply chains while enabling partner countries to benefit from the value generated.
The Committee is chaired by Martins Imonitie, Managing Director of the Nigeria Solid Minerals Corporation, with Esther Udo, Director of the Investment Promotion and Mineral Trade Department, serving as secretary.