President Bola Tinubu has urged African nations to take full control of their mineral wealth and reshape the global financial architecture surrounding the sector, saying the time has come for the continent to finance its own development and secure its sovereignty.
Tinubu, represented by Vice President Kashim Shettima, delivered the call during the Second Africa Minerals Strategy Group (AMSG) High-Level Roundtable on Critical Minerals Development, held on the sidelines of the 80th United Nations General Assembly (UNGA) in New York.
“We must take the bull by the horns in financing our future. Never again shall we wait for capital to trickle in,” Tinubu said.
He proposed leveraging sovereign wealth funds, blended financing vehicles, and innovative tools such as the Africa Mineral Token to fund exploration and processing industries.
Tinubu laid out four key imperatives to unlock Africa’s mineral potential:
Value Addition: Moving beyond raw material exports to develop industries along the entire mineral value chain.
Data Sovereignty: Using Africa-controlled data through platforms like AMREC and PARC for informed decision-making.
Government-led Exploration: Accelerating geological mapping and mineral exploration to strengthen bargaining power.
Innovative Financing: Mobilizing domestic and regional capital to fund Africa’s mineral future.
He applauded Nigeria, Zimbabwe, and Gabon for banning the export of unprocessed minerals, calling such moves “acts of economic courage” that would create jobs, grow industries, and generate shared prosperity.
“Nigeria remains unflinchingly committed to ensuring that AMSG drives a mineral-led renaissance. We must leave this roundtable with a communiqué of clarity, a framework for action, and a spirit of unity,” Tinubu added.
Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, who chaired the session, stressed that cohesion, transparency, and strong partnerships were vital to maximizing the benefits of the sector for citizens.
The dialogue also drew global attention. UNDP’s Regional Director for Africa, Ahunna Eziakonwa, reminded leaders to ensure that mineral wealth serves African citizens rather than perpetuating exploitation.
EU Commissioner Jozef Stkela cited Europe’s 2024 Critical Raw Materials Act and highlighted four strategic partnerships already signed with African nations to support sustainable mineral development.
Analysts say Tinubu’s call aligns with a growing continental movement to capture more value from Africa’s vast resources, reduce dependence on foreign capital, and position the continent as a key player in the global energy transition.
