\u2026Sanwo-Olu says framework will boost local processing, investment and jobs<\/b><\/p>\n
Nigeria and the United States have taken a step towards deepening investment in Nigeria\u2019s estimated $700 billion mineral resources, with the signing of a new framework focused on developing the country\u2019s local mineral value chain.<\/p>\n
Lagos State Governor Babajide Sanwo-Olu disclosed this in a Facebook post on Thursday, saying he witnessed the signing at Nigeria\u2019s Mission House in New York.<\/p>\n
According to the governor, the framework was signed by the Minister of Solid Minerals Development, Dele Alake, and the US Deputy Secretary of State, Christopher Landau.<\/p>\n
Sanwo-Olu said the agreement would shift the focus beyond the export of raw minerals towards building greater domestic value through processing, exploration, infrastructure development and technical capacity.<\/p>\n
\u201cI was in the room at Nigeria\u2019s Mission House in New York on Wednesday when we took an important step forward for our economy,\u201d the governor said.<\/p>\n
He described the development as encouraging, stressing the need to ensure that increased investment in the mining sector translates into tangible benefits for Nigerians.<\/p>\n
\u201cWe must keep working to ensure that opportunities like this create real benefits for our people in Lagos and across Nigeria,\u201d Sanwo-Olu said.<\/p>\n
The development is part of broader efforts to attract investment into Nigeria\u2019s solid minerals sector and promote local value addition rather than reliance on the export of unprocessed mineral resources.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nigeria and the United States have taken a step towards deepening investment in Nigeria\u2019s estimated $700 billion mineral resources, with the signing of a new framework focused on developing the country\u2019s local mineral value chain.<\/p>\n","protected":false},"author":1,"featured_media":27281,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1652,8010,11863,92,8433,377],"class_list":["post-27280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-babajide-sanwo-olu","tag-dele-alake","tag-mineral-resources","tag-nigeria","tag-partnership","tag-us"],"_links":{"self":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/27280"}],"collection":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27280"}],"version-history":[{"count":1,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/27280\/revisions"}],"predecessor-version":[{"id":27282,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/posts\/27280\/revisions\/27282"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=\/wp\/v2\/media\/27281"}],"wp:attachment":[{"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theblogonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}