From Cyril Mbah, Abuja.
Nigeria took a bold step into a new economic future on Wednesday in New York, as the country signed a historic mineral investment framework with the United States at the Nigeria Mission House.
The agreement, aimed at unlocking Nigeria’s estimated $700 billion worth of solid mineral resources, marks a major shift in the nation’s drive to attract strategic foreign investment into its mining sector beyond oil.
The pact was formally signed and exchanged by Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, and the United States Deputy Secretary of State, Mr. Christopher Landau.
L-R: Nigeria’s Minister of Solid Minerals Development, Mr. Dele Alake and US Deputy Secretary of State, Christopher Landau after the two countries signed a mineral investment pact in New York, USA on September 24, 2026.
Described as more than a diplomatic formality, the framework is designed to serve as a foundation for direct business-to-business transactions between American investors and Nigerian mining enterprises, with emphasis on value addition.
In his welcome address, Minister Alake set the tone for the significance of the moment, stating that some agreements merely manage the present, while others shape the future.
According to him, the framework signed with the United States belongs to the second category, as it seeks to build secure, resilient and responsible supply chains for critical minerals that are in high demand globally.
Alake was, however, emphatic about Nigeria’s new posture in the global mining industry. He made it clear that Nigeria will no longer be contented with being a mere exporter of raw materials for other nations to process and profit from. He said the goal of the Tinubu administration is to turn Nigeria’s vast mineral potential into lasting domestic value.
The Minister explained that this transformation will be driven through stronger local processing and beneficiation, creation of new technical skills for Nigerians, generation of quality jobs, and expansion of opportunities for local businesses to participate actively in the mining value chain. This, he noted, is at the heart of the government’s mining policy.
He further disclosed that the framework provides a clear pathway for cooperation in critical areas including geological data sharing and exploration, mineral development and processing, development of mining infrastructure, and building of technical capacity.
When fully implemented, he said, it will accelerate the economic diversification agenda of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Speaking on what lies ahead, Alake stressed that the signing is only the beginning of a more demanding phase. In his words, a signature is a promise, but results are the proof. He assured that in the coming months, both governments will work to identify bankable projects, mobilise private investments, and forge commercial partnerships that will deliver measurable benefits to both nations.
In his response, US Deputy Secretary of State Christopher Landau endorsed Nigeria’s vision, describing Nigeria as Africa’s fastest-growing economy, its most populous country, and a regional power that rightfully deserves a strong partnership with the United States.
He noted that the partnership will bring greater prosperity to both countries and added that the United States is happy to support Nigeria’s economic growth and that the signal being sent by the agreement is clear: the US and Nigeria are now partners.
Landau also noted that under the leadership of President Donald Trump and President Bola Tinubu, both countries have achieved unprecedented milestones in the last eighteen months and would continue to build on that momentum.
The landmark signing ceremony was witnessed by top officials from both sides, including Lagos State Governor Babajide Sanwo-Olu, Permanent Secretary of the Ministry of Solid Minerals Development Engr. Yusuf Yabo, Director-General of the Nigerian Mining Cadastral Office Engr. Simon Nkom, Executive Secretary of the Solid Minerals Development Fund, Hajiya Fatima Shinkafi, and CEO of the Nigeria Solid Minerals Company Mr. Martin Imonitie, alongside members of the US delegation.
