Former lawmaker, Senator Shehu Sani, has called for greater transparency and parliamentary scrutiny of the mineral investment framework recently signed between Nigeria and the United States.
The agreement was signed on the sidelines of the 81st United Nations General Assembly in New York by Nigeria’s Minister of Solid Minerals Development, Dele Alake, and United States Deputy Secretary of State Christopher Landau. It provides a framework for cooperation in geological data and exploration, mineral development and processing, infrastructure and technical capacity.
The Federal Government has described the framework as a means of attracting American investment into Nigeria’s mining sector and strengthening local value addition. Nigeria’s mineral resources have been estimated by the government at about $700 billion.
Reacting in a post on X on Friday, Sani said the details of the agreement ought to have been made public earlier to enable parliamentary scrutiny and ensure that the interests of Nigeria and communities hosting mineral resources were adequately protected.
Sani described the agreement as a potentially significant development but cautioned against treating it merely as a means of replacing Chinese mining companies or satisfying external interests.
“The reported signing of a $700 billion mineral exploration deal between Nigeria and the US on the sidelines of the UN General Assembly is a commendable achievement,” he said.
“But the details of the deal should have been made public earlier for at least parliamentary scrutiny; that would ensure our national interests and the interests of the host communities are well protected.”
He also called for security considerations to be incorporated into the implementation of the agreement, particularly in communities where valuable mineral deposits are located.
Sani cited minerals including lithium, gold, rare earth elements and uranium, and noted that some communities hosting such resources face insecurity and the activities of armed groups.
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“The deal should not just be a swap to replace the Chinese miners or appease anyone,” he said.
“Taking cognisance of the fact that most of the communities that host these precious minerals, like lithium, gold, rare earth elements and uranium, are infested by bandits, security issues must be factored in.”
Sani further argued that the agreement should be considered beyond its economic implications because of its potential consequences for national control over strategic natural resources.
“A mineral deal is not just an economic issue but also a sovereignty issue that must be treated seriously. When you sign a deal with a superpower, you can’t easily ‘unsign’,” he said.
The framework signed by Nigeria and the US is intended to facilitate investment and cooperation across the mining value chain, including exploration, processing, infrastructure development and technical capacity building.
At the signing ceremony, Alake said Nigeria did not intend to remain primarily an exporter of raw minerals and would seek greater local processing, skills development, job creation and opportunities for Nigerian businesses.
The minister said the next stage would involve identifying viable projects, mobilising investment and developing commercial partnerships capable of translating the framework into tangible economic outcomes.
The agreement comes as the Federal Government seeks to attract more foreign investment into the solid minerals sector and reduce Nigeria’s dependence on crude oil by developing other sources of economic activity.
Sani’s intervention has, however, brought renewed attention to the need for public disclosure of the framework’s specific terms, particularly regarding investment obligations, host-community protections, security arrangements, local content, revenue sharing and the management of strategic mineral resources.