President Bola Ahmed Tinubu has called on African countries to form a stronger continental alliance to end the export of raw critical minerals and promote local processing and value addition.
President Tinubu made the call through Vice President Kashim Shettima at the Third Africa Minerals Strategy Group High-Level Roundtable on the sidelines of the 81st United Nations General Assembly in New York.
He said Africa must move beyond its traditional role as a supplier of raw materials and develop industries capable of processing minerals locally into finished and semi-finished products.
The President said the continent’s vast mineral resources, including lithium and other critical minerals needed for clean energy, advanced manufacturing and emerging technologies, present an opportunity to create jobs, attract investment and strengthen African economies.
He stressed that African countries should retain a greater share of the wealth generated from their mineral resources through local refining, manufacturing, technology transfer and skills development.
President Tinubu also called for stronger cooperation among African countries in areas such as geological data, financing, infrastructure, technology and mineral security.
He said individual African countries could have limited bargaining power in the global market, but a coordinated continental approach would strengthen Africa’s position in negotiating investments and developing integrated mineral value chains.
The President further highlighted Nigeria’s efforts to reform the solid minerals sector, promote investment and encourage local value addition.
He urged participants at the roundtable to support the implementation of the Continental Integration and Economic Assurance Declaration adopted at the meeting.
Minister of Solid Minerals Development and Chairman of the Africa Minerals Strategy Group, Dele Alake, said the declaration would provide a framework for developing integrated critical mineral value chains across Africa.
He called on more African countries to join the group, stressing that cooperation was essential to ensure that the continent’s mineral wealth translates into sustainable economic development and improved livelihoods for its people.
Representatives from several African countries, investors and other stakeholders participated in the high-level meeting.
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