Former Senator Shehu Sani has called for greater transparency over the mineral investment framework recently signed between Nigeria and the United States, urging the National Assembly to scrutinise its details.
Sani said Nigerians should be informed about the terms of the agreement, including the financial obligations, expected benefits and commitments of both countries.
Reacting in a post on X on Friday, Sani said the details of the agreement should have been made public earlier to allow for parliamentary scrutiny and ensure that Nigeria’s interests and those of host communities are adequately protected.
He stressed that parliamentary oversight was necessary to ensure that Nigeria’s mineral resources are managed in the national interest and that the agreement does not disadvantage the country.
Sani said: “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.
“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.
“The deal should not just be a swap to replace the Chinese miners or appease anyone.
“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.
“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’.”
The former lawmaker also called for the government to make the details of the deal available for public scrutiny, particularly its provisions on investment, resource ownership and revenue sharing.
His comments come amid efforts by the Federal Government to attract foreign investment and develop Nigeria’s largely untapped solid minerals sector.
Sani urged the National Assembly to examine the agreement and ensure that its implementation protects Nigeria’s economic interests.
