$700bn mineral: ITUC-Africa raises alarm over US–Nigeria deal

By Victor Ahiuma-Young

The African Regional Organisation of the International Trade Union Confederation, ITUC-Africa, has raised concerns over the Nigeria–United States critical minerals framework, warning that Nigeria must ensure its mineral wealth contributes directly to the country’s development rather than creating another form of economic dependency.
In a statement by its General Secretary, Akhator Joel Odigie, ITUC-Africa said the framework, reportedly covering exploration, mining, processing, infrastructure and technical capacity, requires greater transparency and public scrutiny. The labour organisation also cautioned against interpreting the widely reported $700 billion figure as a US investment commitment, saying it represents an estimate of Nigeria’s mineral resources.
The statement called for the publication of the full framework and enforceable safeguards covering domestic beneficiation, local content, technology transfer, decent work, taxation, public revenues, environmental protection and community benefits.
The statement reads “The African Regional Organisation of the International Trade Union Confederation (ITUC-Africa, notes the Nigeria-US critical minerals framework signed in New York in September 2026. It reportedly covers exploration, mining, processing, infrastructure and technical capacity.
“Nigeria’s stated objectives include local processing, skills, jobs and Nigerian business participation.
“Public information on the deal is scanty, with shrouds over specific projects, financing commitments, mineral volumes, pricing, offtake provisions, duration, governance or enforceable domestic beneficiation obligations. The widely reported US$700 billion is an estimate of Nigeria’s mineral resources, not a US$700 billion investment commitment by the United States.
“This is a question of domestic resource mobilisation. Africa cannot keep seeking development finance abroad while surrendering the revenues, industrial value, and productive capacity embedded in its resources.
“Nigeria cannot replace dependence on crude oil exports with dependence on exports of lithium, rare earths or other unprocessed minerals. Changing the commodity without changing the structure of extraction is not economic transformation.
“Nigeria matters. One of Africa’s biggest economies and its most populous country, it has a large, versatile workforce and an extensive consumer base that can sustain domestic industries. Its resource choices can shape continental precedents. Africa has too often surrendered resource wealth through arrangements whose implications became clear only afterwards.
“Agreements of this strategic importance warrant legislative scrutiny, public debate and institutional oversight. Nigeria’s Constitution requires National Assembly enactment for treaties to acquire domestic force of law. What prior discussion and scrutiny has taken place in the National Assembly, including the Senate, before advancement of this framework?
“ITUC-Africa calls for publication of the full framework and enforceable safeguards on domestic beneficiation, local content, technology transfer, decent work, taxation, public revenues, environmental protection and community benefit.
“ITUC-Africa has resolved to sustain its advocacy for Africa’s resources to support its inclusive and shared economic growth and development. Guided by the African Union’s Africa Mining Vision (AMV), we will relentlessly advocate for transparent, equitable resource governance, domestic value addition, and mineral revenues that finance industrialisation, decent jobs, and shared prosperity. We salute African countries working to drive value addition to their mineral wealth and refusing to bow to internal sabotage and external manipulation.”

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