Nigeria-US mining deal targets investment, not resource sale
By the AFREEQUE newsroom, based on Punch
Nigeria says its mining agreement with the United States is intended to attract investment and technology, without transferring ownership of its resources or representing a $700 billion sale. Minister Dele Alake defended the partnership during the inauguration of a bilateral committee in Abuja.
Nigeria has not sold $700 billion worth of mining resources to the United States, Solid Minerals Development Minister Dele Alake said at the inauguration in Abuja of the Nigerian-American committee for strategic cooperation in the sector. According to a ministry statement cited by Punch, the bilateral agreement aims to attract investment and technology, without transferring ownership of natural resources.
The memorandum of understanding between the two governments is intended to facilitate partnerships between American investors and Nigerian operators, Dele Alake explained. The minister rejected claims that the United States would take control of Nigeria’s mineral resources or security apparatus. He presented the cooperation as a way for the country to extract more value from its resources, rather than limiting itself to exporting raw materials.
The cooperation framework was established during the 81st United Nations General Assembly in New York. The committee inaugurated in Abuja brings together representatives of the relevant Nigerian administrations and the US embassy. The mining agreement had already prompted calls for transparency: an American company requested its text, then the Arewa Forum called for its details.
