Nigeria, AfDB Push African Control of Mineral Wealth Through Local Value Addition
Nigeria, AfDB Push African Control of Mineral Wealth Through Local Value Addition
Nigeria and the African Development Bank (AfDB) have renewed calls for African countries to take greater control of the continent’s vast mineral resources by prioritising local value addition, regional cooperation, and sustainable industrialisation as a pathway to long-term economic growth.
The renewed push came during the Ministerial Forum on Critical Minerals, Value Chains and Beneficiation held in Abidjan, Côte d’Ivoire, where African ministers, development partners, private sector leaders and policymakers agreed that the continent must move beyond exporting raw minerals and instead develop industries capable of processing and adding value to its natural resources.
Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, urged African nations to adopt a unified strategy that would enable the continent to maximise the economic benefits of its abundant mineral deposits. He stressed that exporting unprocessed minerals has denied Africa significant revenue, industrial growth and employment opportunities for decades, adding that regional collaboration remains essential to building competitive mineral value chains.
Alake also advocated greater African ownership of geological data and mineral resource reporting systems, describing reliable data as a strategic asset for attracting investment and strengthening the continent’s bargaining power in the global minerals market. He called for wider adoption of the Pan African Resource Reporting Code (PARC) to replace reliance on foreign reporting standards and promote transparency across Africa’s mining industry.
AfDB President Dr. Sidi Ould Tah noted that although Africa possesses a substantial share of the world’s critical minerals, the continent has yet to translate that advantage into proportional economic prosperity. He urged African governments to accelerate investments in mineral processing, manufacturing, infrastructure and regional value chains capable of creating jobs and driving industrial transformation.
Participants at the forum adopted a common position supporting stronger regional integration, strategic financing and local beneficiation to ensure Africa captures more value from its natural resources. They argued that developing domestic processing industries would not only boost economic diversification but also strengthen the continent’s role in global supply chains for critical minerals used in clean energy technologies, electric vehicles and advanced manufacturing.
The renewed commitment aligns with Nigeria’s broader strategy to reposition the solid minerals sector as a major contributor to national revenue, attract foreign investment and reduce dependence on crude oil exports while supporting Africa’s industrial and economic transformation agenda.
