Atiku demands full details of $700bn US-Nigeria minerals deal

Former Vice President Atiku Abubakar has called on the Federal Government to publish the full details of its recently signed minerals cooperation agreement with the United States, demanding transparency over the benefits, obligations and potential implications for Nigeria.

Atiku, the presidential candidate of the African Democratic Congress (ADC), made the demand through his media aide, Paul Ibe, who questioned the government’s decision to announce the agreement without making the complete document available to the public.

The agreement, signed on September 23, 2026, by Nigeria’s Minister of Solid Minerals Development, Dele Alake, and US Deputy Secretary of State Christopher Landau in New York, is intended to attract American investment into Nigeria’s mining sector.

The deal was signed on the sidelines of the 81st United Nations General Assembly and is expected to promote cooperation in mineral exploration, processing, infrastructure development and technical capacity building.

However, Atiku’s camp has questioned the terms of the agreement, insisting that Nigerians deserve to know what both countries stand to gain from the partnership.

In a statement, Ibe argued that the widely reported $700 billion figure represents the estimated value of Nigeria’s mineral resources and not the amount of investment the United States has committed to the country.

He urged the Federal Government to clarify the specific financial commitments, commercial arrangements and legal obligations contained in the agreement.

Among the issues raised by the opposition are the minerals covered by the framework, whether American companies would enjoy preferential access to Nigeria’s resources and how geological data generated through exploration activities would be managed.

Ibe also sought clarification on whether the agreement includes tax concessions, investment guarantees or preferential fiscal arrangements for American companies.

He further questioned what safeguards had been established to ensure that minerals extracted under the partnership would be processed locally rather than exported in their raw form.

The ADC chieftain also called for details of provisions relating to employment opportunities for Nigerians, local content, technology transfer and dispute resolution.

He urged the government to disclose any annexes, side agreements or implementation arrangements associated with the framework and clarify whethe