Tinubu’s $700 Billion Mineral Resources Deal With America At Whose Interest?, by Hajia Hadiza Mohammed

For some time now the hottest issue of debate in the Nigeria media space has been the proposed release of the American FBI files on Asiwaju Bola Ahmed Tinubu, with Tinubu fighting and lobbying intensely against the release of the said files that allegedly had criminal contents. While the debate on the issue rages, Tinubu jetted out of the country on three-week vacation in France, refusing to attend the 81st United Nations General Assembly (UNGA) event in New-York, something his critics attributed to fear of arrest by the American authorities over his involvement in narcotics trafficking in the past. Then came the news shortly after that a person close to Tinubu offered a bribe of $3 million to Dr. Karl Von Batten, the founder of Von Batten-Montague-York, L.C., a Washington, D.C.-based lobbying firm working for the release of the Tinubu FBI files.
Then suddenly a few days ago the news came that the government of Nigeria and the United States has signed have signed an agreement to attract American investment into Nigeria’s solid minerals sector and unlock an estimated $700 billion in mineral resources; strategic framework agreement to boost American investment in Nigeria’s solid minerals sector, raising suspicions about the purpose of the said deal and the intention of Tinubu to accent to the deal. Yes the timing, the circumstances are fueling speculations that Tinubu is trading off Nigerians common wealth for his personal protection and inordinate ambition.
The framework, signed in New York on Wednesday September 24, 2026 at Nigeria’s Mission House in New York by Nigeria’s Minister of Solid Minerals Development, Dele Alake, and US Deputy Secretary of State Christopher Landau, is said to target cooperation in mineral exploration, development, processing, infrastructure and technical capacity. Speaking at the occasion Alake said among other things that: “Our goal is to turn potential into lasting value at home through stronger local processing, new skills, quality jobs, and new opportunities for Nigerian businesses”.
If the agreement was borne out of genuine desire by the Federal Government to attract investment into Nigeria’s mining industry, diversify government revenue and reduce dependence on oil through the development of the country’s solid mineral resources I have no problem with it in any way, but the timing and the manner of execution of the pact without due process leaves much to be desired.
First, we need to understand that this is not a $700 billion investment by the US in Nigeria. The $700 billion figure is the estimated value of Nigeria’s mineral resources. The agreement is expected to provide a framework for US-backed investment and partnership across Nigeria’s mining value chain. Alake’s words that the two countries would identify viable projects, mobilize investments and develop commercial partnerships capable of delivering measurable benefits indicates that the said deal was hurriedly packaged without the necessary technical details. How then did they come about the $700 billion value of the deal?
Many critics and concerned Nigerians have raised questions about the relevance of the deal, the purpose and detail taking into consideration Tinubu’s penchant for taking arbitrary decisions on things that are of general concern. The cases of Tinubu’s unilateral decision and use of our common resources is endless: from the off-budget expenditure, to awarding contract without due process, using our public funds to lobby for image laundry, bribery, diverting public funds from source without passing through the federation account, arbitrary siting of government projects in a particular, lopsided appointments and uncontrolled borrowing and wasteful spending.

One of the major problem of Nigeria is the attitude of those in power over the use of public wealth. Some have wrong notion about governance and representation. Some think that they own the people and that the people should serve them instead of serving the people. Some people in power erroneously think that they are the state. All the resources of the state are for them to use as it pleases them; to deploy at will. They forgot that they are only a temporary caretaker. They are wielding power in trust for the people. It is wrong absolutely to deploy resources for personal reasons. It is an abuse of office.

Our natural resources are public asset and our collective wealth and not the private property of the president or government officials and so any deal involving our common wealth must be properly handled transparently for the general good. The issues are Nigerians needs to know what we are committed to in this mineral resources deal with America. What minerals are covered by the agreement? How is our national interest protected under the agreement? What binding provisions guarantee Nigerian jobs, local content, technology transfer and value addition? How will disputes be settled? Has the NASS that has the regulatory approval for such international pact been formally informed?

The truth is that the Nigerian public is skeptical about this deal. The suspicion is that Tinubu has mortgaged our common wealth for his freedom and his personal ambition. Yes Nigeria wants the exploration and utilization of our abundant mineral resources to reduce dependence on oil. But the exploitation should be for the benefit of Nigerians. It should not be mortgaged to pursue personal ambition. I recommend total investigation and review of the deal. Let due process be observed. If there is any breach anywhere, the deal should be terminated.

Hajia Hadiza Mohammed
Hajiahadizamohammed@gmail.com
An actress, a social activist, politician
London, UK