Nigeria Opens $700bn Mineral Vault to US Amid Trump’s Push to Outgun China
Nigeria and the United States have signed an agreement to expand American investment in Nigeria’s mining industry, a move that
Nigeria and the United States have signed an agreement to expand American investment in Nigeria’s mining industry, a move that places Africa’s most populous nation at the centre of Washington’s intensifying contest with China over critical minerals.
The agreement lands as President Donald Trump accelerates efforts to secure alternative supplies of critical minerals used in batteries, defence systems and clean energy technology — a market where Chinese firms currently hold a commanding position across much of Africa.
It was signed on Wednesday at the Nigeria Mission House in New York by Dele Alake, Nigeria’s minister of solid minerals development, and US Deputy Secretary of State Christopher Landau. Alake announced the agreement on X on Thursday.
“This is an important step in strengthening Nigeria-US cooperation around our mineral resources, valued at about $700 billion,” the minister wrote.
According to Alake, the agreement spans four broad areas: geological data gathering and exploration, mineral development and processing, infrastructure, and technical capacity building.
He described the pact as part of a wider effort to end Nigeria’s long-standing role as a supplier of unprocessed commodities to foreign markets.
“Nigeria cannot remain a source of raw materials while others capture most of the value,” he said. “We want more local processing, quality jobs, stronger skills and greater opportunities for Nigerian businesses.”
The minister said the government would move quickly to convert the framework into concrete ventures. “In the coming months, we will turn this framework into projects, investments and real results for our people. We will identify viable projects and build partnerships that create value for Nigerians and our US partners.”
Alake positioned the agreement within President Bola Ahmed Tinubu’s Renewed Hope Agenda, describing it as a route to reducing Nigeria’s dependence on crude oil earnings.
“This is how we turn our mineral wealth into lasting economic growth and advance the diversification goals of President Bola Ahmed Tinubu’s Renewed Hope Agenda,” he said.
