The media aide to Atiku Abubakar, presidential candidate of the African Democratic Congress (ADC), has challenged the Federal Government to disclose the full details of its recently signed mining framework with the United States. Paul Ibe stated that the $700 billion figure associated with the agreement represents the estimated value of Nigeria's mineral resources, not the amount of investment provided by the US. Ibe demanded that the Federal Government publish the agreement, explaining the specific obligations and benefits arising from it.
According to Ibe, Nigerians deserve more than just photographs, handshakes, speeches, and press releases regarding resources potentially worth hundreds of billions of dollars. He sought clarification on the minerals covered by the agreement, including whether it applies to lithium, gold, rare earths, or other strategic minerals. Ibe also questioned whether American companies would receive preferential access to Nigeria's mineral resources and what arrangements had been made concerning geological data generated from exploration.
Ibe further demanded details of any tax concessions, guarantees, or preferential fiscal arrangements contained in the deal. He asked whether minerals extracted under the agreement would be processed in Nigeria or exported as raw materials. Additionally, Ibe inquired about binding provisions guaranteeing Nigerian jobs, local content, technology transfer, and value addition, as well as how disputes arising from the agreement would be resolved.
The agreement was signed by the Minister of Solid Minerals Development, Dele Alake, and the US Deputy Secretary of State, Christopher Landau, at the Nigeria Mission House in New York on the sidelines of the 81st United Nations General Assembly. Alake stated that the framework would cover geological data and exploration, mineral development and processing, infrastructure, and technical capacity. Nigeria's mineral resources are estimated at about $700 billion.
Alake said the government aims to move Nigeria beyond the export of raw materials by promoting local processing, creating quality jobs, developing skills, and expanding opportunities for Nigerian businesses. The government plans to identify viable projects and develop partnerships capable of creating value for Nigerians and US partners in the coming months.
Ibe urged the government to publish the deal, including any annexes and side letters, and disclose whether the complete agreement had been transmitted to the National Assembly. He emphasized that Nigeria's mineral wealth belongs to the country and should not be governed by agreements kept away from public scrutiny. Ibe also cited Sections 88 and 89 of the Constitution, which confer investigative and oversight powers on the legislature.
Ibe argued that the National Assembly has a legitimate constitutional responsibility to scrutinize aspects involving fiscal concessions, guarantees, public expenditure, changes to Nigerian law, or commitments affecting strategic national resources. The opposition party demands that the government prioritize transparency and accountability in the mining deal, ensuring that Nigerians benefit from the country's mineral resources.
Key points
- The Atiku Camp is demanding full disclosure of the $700bn Nigeria-US mining deal.
- The deal covers geological data and exploration, mineral development and processing, infrastructure, and technical capacity.
- The opposition party questions the government's transparency and accountability in the mining deal.
