FG dismisses reports of $700bn mineral sale to United States

The Federal Government has dismissed reports that Nigeria sold $700 billion worth of solid minerals to the United States, describing the claims as false.

Minister of Solid Minerals Development, Dele Alake, clarified this while inaugurating the Nigeria-US Committee on Strategic Cooperation in Abuja.

According to PUNCH, Alake explained that the agreement was designed to attract American investment, technology and expertise into Nigeria’s mining sector.

“There is no sale of any Nigerian asset. There’s nothing exchanging hands,” he declared.

The minister said the partnership would connect American investors with Nigerian mining operators while ensuring mutual economic benefits.

“We have the resources, the critical elements the world needs to transition to clean energy. So we are creating a new paradigm, you bring your capital, expertise and technology to match with our natural resources and create a win-win situation. The investor gains, Nigeria gains,” Alake said.

He added that local mineral processing remained a government priority.