Human rights activist and Senator, Shehu Sani, has described the reported signing of a $700 billion mineral exploration deal between Nigeria and the United States as a commendable achievement, while insisting that its details should have been made public earlier for parliamentary scrutiny.
Sani said such scrutiny was necessary to ensure that Nigeria’s national interests and those of host communities are properly protected, stressing that the deal should not merely serve as a swap to replace Chinese miners or to appease any party.
He noted that many communities hosting valuable minerals such as lithium, gold, rare earth and uranium are plagued by banditry, and warned that security concerns must be factored into the arrangement.
According to him, a mineral deal of this scale is not only an economic matter but also a sovereignty issue that demands serious handling, given that agreements with a superpower are difficult to reverse once signed and could have implications stretching to future generations.
The deal was signed on Wednesday at the Nigeria Mission House in New York, where US Deputy Secretary of State Christopher Landau and the Minister of Solid Minerals Development, Dele Alake append their signatures to an agreement aimed at deepening American investment in Nigeria’s mining sector.
Nigerian officials described the framework as a major step in strengthening Nigeria-US cooperation around the country’s mineral resources, estimated to be worth about $700 billion.
They said the arrangement covers geological data and exploration, mineral development and processing, infrastructure, and technical capacity building.
Officials further stated that Nigeria cannot continue to serve merely as a source of raw materials while other countries capture the bulk of the value, emphasizing the need for more local processing, quality jobs, stronger skills development and greater opportunities for Nigerian businesses.
They added that in the coming months, the framework would be translated into concrete projects and investments, with plans to identify viable ventures and build partnerships that generate value for both Nigerians and their American partners.
The initiative, officials said, is central to converting the country’s mineral wealth into sustained economic growth and advancing the diversification objectives of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
