Nigeria and the United States are set to strengthen cooperation in the mining sector, with both countries planning to sign a Memorandum of Understanding (MoU) on mining cooperation during the upcoming United Nations General Assembly in New York.
The proposed agreement follows a meeting between Nigeria’s Minister of Solid Minerals Development, Dele Alake, and the United States Embassy’s Chargé d’Affaires, Keith Heffern, in Abuja.
According to the ministry, the partnership is expected to support greater collaboration between both countries in developing Nigeria’s mining industry and attracting investment into the sector.
The planned MoU comes as the Federal Government continues efforts to reduce Nigeria’s dependence on oil revenues by expanding the country’s non-oil sectors, particularly mining and other areas capable of generating foreign exchange.
Nigeria has significant deposits of gold, lithium, tin, iron ore and other solid minerals, but the sector has faced challenges including limited investment, illegal mining and inadequate processing capacity.
The proposed Nigeria-US cooperation could provide an opportunity to strengthen technical partnerships, investment and value addition within the sector, while supporting the government’s broader push to make solid minerals a more significant contributor to the Nigerian economy.
The agreement is expected to be signed on the sidelines of the UN General Assembly in New York.
