•Says Nigerians, National Assembly must scrutinise agreement
NIGERIA: The camp of former Vice President and ADC presidential candidate, Atiku Abubakar, has called on the Federal Government to publish the full details of the recently announced $700 billion Nigeria-United States minerals investment framework.
The demand was made on Tuesday by Atiku’s media aide, Paul Ibe, who said Nigerians and the National Assembly should be allowed to examine the agreement in view of the strategic importance of the country’s mineral resources.
Ibe, in a post on X, urged the government to release the complete document, including any annexes or side letters, arguing that greater disclosure was necessary to promote transparency and public confidence.
He also cautioned against interpreting the $700 billion figure as an actual $700 billion investment by the United States, explaining that the amount represents the Federal Government’s estimated value of Nigeria’s mineral resources.
Ibe questioned the scope and terms of the framework, including the minerals covered, whether American companies would receive preferential access and what geological data Nigeria would be expected to provide.
He also sought clarification on possible tax concessions, government guarantees, local-content requirements, technology transfer, job creation, processing of minerals within Nigeria and provisions for dispute resolution.
The former vice president’s aide further asked whether the Senate and House of Representatives had received the complete agreement for scrutiny.
Citing constitutional provisions, Ibe said Section 12 of the 1999 Constitution provides that treaties entered into between Nigeria and other countries would not have the force of law unless enacted by the National Assembly.
He also referred to Sections 88 and 89, which confer investigative and oversight powers on the legislature.
While acknowledging that not every framework agreement necessarily requires legislative approval, Ibe argued that arrangements involving fiscal concessions, government guarantees, public expenditure or strategic national resources should be subjected to parliamentary scrutiny.
“There is a very simple way for the government to clear the air: publish the annexes and side letters, if any,” he said.
Ibe also called on the government to disclose whether the complete agreement had been transmitted to the National Assembly.
“Let us know exactly what America gets and exactly what Nigeria gets,” he said.
He added: “Nigeria’s mineral wealth belongs to Nigeria. Agreements governing resources of such enormous strategic value should never depend on secrecy. Nigeria’s mineral resources should never be used as a leverage to achieve personal political end.”
Appealing directly to President Bola Tinubu, Ibe said: “Mr President, publish the deal. Let the National Assembly scrutinise what falls within its constitutional powers. Let Nigerians read the agreement and judge for themselves.”
