Nigeria, US Sign Deal to Unlock Mining Investment

Nigeria and the United States have signed a new framework agreement aimed at attracting more American investment into Nigeria’s mining and critical-minerals sector.

The agreement was signed in New York by Nigeria’s Minister of Solid Minerals Development, Dele Alake, and US Deputy Secretary of State Christopher Landau. Nigeria’s Federal Ministry of Information confirmed the development on September 24, 2026.

The deal is expected to strengthen cooperation between both countries in areas including geological data, mineral exploration, mineral development and processing, infrastructure and technical capacity.

For Nigeria, the agreement is part of efforts to move beyond exporting raw minerals and develop more local value from the country’s natural resources.

Alake said Nigeria wants to use its mineral resources to create local processing opportunities, develop skills, generate jobs and provide opportunities for Nigerian businesses.

The agreement comes as the United States seeks stronger and more reliable supply chains for critical minerals used in industries such as technology, energy and manufacturing. The deal therefore gives American companies a framework for exploring opportunities within Nigeria’s mining industry.

Nigeria has estimated its mineral resources at about $700 billion, a figure that has featured prominently in the government’s efforts to attract investment into the sector. However, the $700 billion is an estimate of the value of Nigeria’s mineral resources, not the amount of money the United States is investing under this agreement.

The Nigerian government says the next stage will be implementation, including identifying viable projects, mobilising investments and developing commercial partnerships.

The agreement could also support Nigeria’s wider attempt to diversify its economy and reduce its dependence on oil by developing mining, processing and other industries around its mineral resources.

For ordinary Nigerians, the bigger question will be whether the agreement eventually translates into actual mining projects, new businesses, jobs, local processing facilities and government revenue.

Iwebema Emmanuel

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