US and Nigeria Sign Pact to Unlock $700 Billion in Minerals

The Government of Nigeria and the United States signed a framework agreement on September 23, 2026, to increase American investment in Nigeria's solid minerals sector. Signed at Nigeria's Mission House in New York during the 81st UN General Assembly, the pact aims to unlock mineral resources estimated at $700 billion through cooperation on geological data, exploration, infrastructure, and technical capacity.

Nigerian Minister of Solid Minerals Development Dele Alake stated the agreement shifts the nation's strategy from raw material extraction toward local processing and value addition. This initiative aligns with President Bola Tinubu's Renewed Hope Agenda to diversify the economy and reduce dependence on oil revenue. Alake emphasized that the goal is to create quality jobs and new opportunities for Nigerian businesses rather than remaining a source of raw materials for other nations.

US Deputy Secretary of State Christopher Landau characterized Nigeria as a strategic regional power and noted that the partnership builds on cooperation established under Presidents Donald Trump and Bola Tinubu. For the United States, the agreement supports the goal of securing resilient supply chains for critical minerals essential for technologies such as electric-vehicle batteries.