Nigeria and the United States have signed a framework agreement to deepen American investment in Nigeria's solid minerals sector. The agreement, signed by Minister of Solid Minerals Development Dele Alake and US Deputy Secretary of State Christopher Landau at Nigeria's Mission House in New York, covers cooperation in geological data and exploration, mineral development and processing, infrastructure, and technical capacity. It is expected to provide a framework for business-to-business transactions aimed at developing Nigeria's mineral value chains and attract investment into the country's estimated $700 billion mineral resource base. Alake said the deal marks a shift from Nigeria's role as a raw materials exporter, while the US described Nigeria as a regional power.
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