US and Nigeria Discuss Funding for Mining Projects
The Honourable Minister of Solid Minerals Development, Dr. Oladele Alake, recently convened with United States Assistant Secretary for Energy and Natural Resources Geoffrey Pratt to discuss potential funding for mining projects in Nigeria. This meeting was held during the Mines & Money conference in London.
Pratt expressed the United States’ keen interest in entering into a partnership with Nigeria for the advancement of the solid minerals sector. He acknowledged the reforms announced by Minister Alake and conveyed the US’s eagerness to work with Nigerian officials to explore financing opportunities for mining firms and related infrastructure. Pratt also underscored the US government’s commitment to supporting Nigeria’s economic recovery, following a previous meeting with President Bola Ahmed Tinubu.
In response, Dr. Alake embraced the opportunity for collaboration and elucidated that the Ministry of Solid Minerals Development has developed a comprehensive roadmap to reposition the sector. He stressed the necessity for credit facilities and foreign direct investment in the sector, particularly emphasizing the significance of energy minerals such as lithium in the context of the global momentum towards clean energy and electric vehicles.
Furthermore, during the meeting, Hajiya Fatima Shinkafi, the executive secretary of the Nigerian Solid Minerals Fund, lauded the US for its investment in mining infrastructure in Central Africa and advocated for a similar partnership with the Fund.
The deliberations between the two parties signify a growing interest in the advancement of Nigeria’s solid minerals sector and the potential for international collaboration to drive investment and innovation in the country’s mining projects.
