Nigeria and the United States have signed a framework agreement to deepen American investment in Nigeria's solid minerals sector, with cooperation spanning geological data and exploration, mineral development and processing, infrastructure and technical capacity. The agreement was signed by the Minister of Solid Minerals Development, Dele Alake, and the US Deputy Secretary of State, Christopher Landau, at Nigeria's Mission House in New York. It is expected to provide a framework for business-to-business transactions aimed at developing Nigeria's mineral value chains and to attract investment into Nigeria'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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