KADUNA: The Arewa Consultative Forum (ACF) has called on the Federal Government to explain the details and expected benefits of Nigeria’s reported $700 billion mineral deal, warning that the country’s natural resources must improve the lives of Nigerians rather than enrich foreign interests.
The National Public Secretary of the ACF, Prof. Tukur Mohammed-Baba, said the government must provide clarity on the agreement, including what Nigeria stands to gain and how the reported deal will translate into better living conditions for citizens.
Mohammed-Baba expressed concern over the potential consequences of mineral exploitation without transparent processes and adequate safeguards, arguing that resource extraction that fails to benefit local populations could deepen poverty and hardship.
According to him, mineral exploitation is not new in Africa, where the management of natural resources has remained a major issue in debates over development, foreign investment and economic sovereignty.
He stressed that Nigeria must carefully examine the terms of any major mineral agreement to ensure that the country’s resources are not exploited at the expense of its citizens
The ACF spokesman questioned the Federal Government over the expected returns from the reported $700 billion mineral deal, insisting that Nigerians deserve to understand the arrangement.
He warned that foreign companies and investors should not be allowed to benefit disproportionately from Nigeria’s mineral wealth while host communities and citizens continue to experience poverty.
“The government needs to tell Nigerians what we are getting into with this deal,” Mohammed-Baba said.
He further warned that when foreign interests take advantage of the country’s resources without proper processes, the consequences could include misery and poverty for local populations.
The ACF official maintained that the welfare of Nigerians must remain central to decisions involving the country’s natural wealth
Mohammed-Baba emphasised the scale of the responsibility facing the government, noting that the lives and economic future of millions of Nigerians could be affected by decisions concerning the nation’s mineral resources.
He argued that Nigeria’s natural endowments should be harnessed to create jobs, improve infrastructure, strengthen local industries and raise living standards.
“The lives of 240 million Nigerians are at stake, and our resources should not be used to improve lives in other countries at the expense of our own people,” he said.
His comments highlight concerns over resource governance, transparency, local participation and the long-term benefits of foreign investment in Nigeria’s mining sector.
The ACF’s position adds to broader questions about how Nigeria can turn its mineral deposits into sustainable economic development.
A transparent agreement, clear revenue arrangements, environmental safeguards and meaningful benefits for host communities are among the issues that typically shape public scrutiny of major mining investments.
However, details of the reported $700 billion mineral deal, including its investors, duration, mineral assets, financial structure and implementation framework, were not provided in the statement.
The figure and specific terms of the deal could not be independently verified from the information available for this report.
Mohammed-Baba’s remarks were issued in his capacity as National Public Secretary of the Arewa Consultative Forum.
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