Former Kaduna Central Senator, Shehu Sani, has called for parliamentary scrutiny of the recently signed mineral investment framework between Nigeria and the United States, saying the details of the agreement should be made public to protect the country’s national interests.
Sani described the Nigeria-US agreement as a potentially significant development but said its implications went beyond investment and economic cooperation, stressing that lawmakers and Nigerians needed sufficient information about its terms.
The former senator made the call following the signing of the framework agreement by Nigeria’s Minister of Solid Minerals Development, Dele Alake, and United States Deputy Secretary of State, Christopher Landau, in New York on the sidelines of the 81st United Nations General Assembly.
The framework covers cooperation in geological data and exploration, mineral development and processing, infrastructure, and technical capacity building. The Federal Government has estimated the value of Nigeria’s mineral resources at about $700bn.
Sani argued that an agreement involving such a substantial resource base required careful parliamentary examination to ensure that the interests of Nigeria and communities where mineral deposits are located were adequately protected.
He also cautioned against an arrangement that would simply replace existing foreign mining interests with American interests without producing broader economic benefits for Nigerians.
According to reports of his statement, Sani said the agreement should not merely become a “swap” for replacing Chinese miners, insisting that Nigeria’s interests must remain central to the implementation of the framework.
The former senator further raised security concerns around communities where valuable minerals are located. He pointed to areas hosting deposits such as lithium, gold, rare earth minerals and uranium, noting that some mineral-producing communities also face insecurity and banditry.
He therefore argued that security considerations should form part of the discussions surrounding the exploitation and development of the country’s mineral resources.
Sani also described the agreement as a sovereignty issue, arguing that arrangements involving major global powers require careful consideration because of their potential long-term consequences.
He warned that once major agreements are signed with powerful countries, reversing or renegotiating them could become difficult, making transparency and scrutiny particularly important.
The Federal Government, however, has presented the framework as part of its broader effort to move Nigeria away from the export of raw minerals and towards greater local value addition.
Alake said the agreement was designed to support local processing, skills development, job creation and opportunities for Nigerian businesses. He added that Nigeria did not want to remain merely a supplier of raw materials while other countries captured most of the value generated from its mineral resources.
The minister also stressed that the signing of the framework was only the beginning, with implementation expected to involve the identification of viable projects, mobilisation of investment and development of commercial partnerships.
BusinessDay reported that the eventual impact of the framework would depend on factors including geological data, infrastructure, financing, security, regulation and the ability to develop processing capacity within Nigeria.
The agreement therefore places renewed attention on how Nigeria manages its mineral wealth, particularly whether increased foreign investment will translate into local processing, jobs, infrastructure and economic opportunities for mineral-producing communities.
Sani’s call for parliamentary scrutiny adds another dimension to the debate, with the focus shifting from the signing of the agreement to the transparency of its terms and how its implementation will affect Nigeria’s economic and strategic interests.
