Nigerian Minister of Solid Minerals Development, Dr. Dele Alake, has stated that Nigeria has not sold any of its mineral assets to the United States. He described reports of a 700-billion-dollar deal as false. Alake made this clarification in Abuja during the inauguration of the Nigeria–United States Committee on Strategic Cooperation in the Solid Minerals Sector.
The committee was established to connect American investors with Nigerian mining operators. Alake emphasized that no Nigerian assets had been sold or transferred to the US as part of this partnership. The agreement follows a strategic cooperation framework established between both countries during the 81st United Nations General Assembly in New York.
The partnership aims to attract investment, promote technology transfer, support local mineral processing, and create jobs. This initiative is part of President Bola Tinubu’s efforts to diversify the economy and reduce dependence on crude oil. Historically, Nigeria has exported minerals with little local processing, limiting the economic benefits to the country.
To address this, the government has made local processing a condition for granting mineral titles. This policy has encouraged the establishment of processing factories across the country. For example, a lithium processing plant was recently commissioned in Nasarawa State, demonstrating the government’s drive to develop local capacity and add value to mineral resources.
Alake noted that ongoing economic reforms have improved investor confidence. He urged the committee to identify opportunities and ensure the partnership produces measurable results. The minister charged members to support the Federal Government’s ambition of building a one-trillion-dollar economy through investment and development of the solid minerals sector.
The Ministry’s Permanent Secretary, Faruk Yusuf Yabo, stated that the committee would provide a structured framework for strengthening bilateral cooperation and attracting investment. Jonathan Baas, the Economic Officer at the US Embassy, disclosed that critical minerals, energy, and artificial intelligence are among the priority areas of the US engagement with other countries.
Baas also revealed that a contract had been signed to explore the development of artificial intelligence data centres in Nigeria. The inauguration of the committee is expected to strengthen Nigeria–US cooperation and support the Federal Government’s efforts to develop the solid minerals sector, promote industrial growth, and diversify the economy.
Key points
- Nigeria has not sold any mineral assets to the US.
- The Nigeria-US partnership aims to attract investment and promote local mineral processing.
- The government has made local processing a condition for granting mineral titles to encourage the establishment of processing factories.
