The Minister of Solid Minerals Development, Dr. Oladele Alake, and U.S. Assistant Secretary for Energy and Natural Resources, Geoffrey Pratt, have agreed to establish a joint team of officials to explore financing options for credit to mining firms and infrastructure.
This decision was made during their meeting at the Mines & Money conference in London. Pratt mentioned that his visit to Alake followed a prior meeting with President Bola Ahmed Tinubu, where the U.S. expressed interest in being Nigeria’s partner for the development of the solid minerals sector.
The U.S. aims to support Nigeria’s economic revival, particularly in response to the reforms outlined by Minister Alake during the conference.
Alake welcomed this collaboration, emphasizing the importance of the credit facility and foreign direct investment from the U.S. in advancing the seven-point agenda for solid minerals development.
He highlighted initiatives such as the new Solid Minerals Development Company and enhanced security measures for mining operations.
The mutual interest lies in the global demand for energy minerals, crucial for clean energy and electric vehicle manufacturing.
Hajiya Fatima Shinkafi, the executive secretary of the Nigerian Solid Minerals Fund, also praised the U.S. for its investment in mining infrastructures in Central Africa, urging a similar partnership with the Fund.