Nigeria: Alake Defends Nigeria-US Minerals Deal, Rejects $700bn Sale Claims

The Minister of Solid Minerals Development, Dr Dele Alake, has dismissed claims that Nigeria sold $700bn worth of solid minerals to the United States, insisting that the bilateral agreement was designed to attract investment and facilitate cooperation, not transfer ownership of the country’s mineral assets.

Alake said no Nigerian asset was sold under the agreement, describing reports suggesting that the United States was taking over Nigeria’s mineral resources and security architecture as false.