President Tinubu calls for an end to Africa’s role as raw material exporter

…advocates for local mineral processing

By Kunle Sanni

President Bola Tinubu has urged an end to Africa’s role as a mere exporter of raw minerals, warning that continuing to export unprocessed resources perpetuates poverty and underdevelopment across the continent.

Speaking at the Africa Minerals Strategy Group (AMSG) event during the United Nations General Assembly in New York, Tinubu, represented by Vice President Kashim Shettima, emphasized the necessity of processing Africa’s mineral wealth locally.

He pointed out that although Africa holds a substantial share of global mineral reserves—92% of platinum, 56% of cobalt, and 54% of manganese—it remains heavily dependent on foreign markets for refining and manufacturing products from these raw materials.

In his speech, titled “Africa’s Natural Resources Shaping the Future,” President Tinubu stressed the urgency for the continent to break free from this dependency. He explained that exporting raw minerals without local processing only deepens Africa’s underdevelopment and exacerbates its economic struggles.

“A situation in which raw minerals are extracted from our countries, exported, refined, and sold back to us as finished products only solidifies the foundations of our misery and pushes us deeper into underdevelopment,” he said.

The Nigerian leader called on African nations to adopt an agenda that prioritizes local value addition, which he sees as crucial to industrializing the continent and driving sustainable economic growth.

President Tinubu also highlighted the significance of lithium-ion technology, noting its impact on the swift production of portable consumer electronics, such as laptops, phones, and electric vehicles.

He added, “We live in an era of electronic mobility where lithium-powered batteries offer higher specific energy, energy density, efficiency, and longer life cycles. The global demand for new battery technology has sparked a new scramble for Africa’s critical minerals. The world needs Africa now more than ever.”

President Tinubu emphasized Africa’s determination to move beyond the historical exploitation of its resources, advocating for the localization of the entire mineral value chain within the continent.

He also reaffirmed his administration’s commitment to adding local value to Nigeria’s mineral resources, in line with the AMSG’s vision, which is chaired by Nigeria’s Minister of Solid Minerals Development, Mr. Dele Alake.

Citing Nigeria’s market of over 226 million people, the President noted that the success of the country’s $10 billion telecommunications industry demonstrates its potential for growth in the production of lithium batteries and other components. He encouraged businesses to invest in Nigeria and help domesticate the mineral value chain from extraction to production.

He affirmed that the AMSG aims to transform Africa from a supplier of raw materials into a key player in the global mining industry.

Nigeria’s Minister of Solid Minerals, Dele Alake, who also addressed the event in his capacity as AMSG Chairman, outlined the group’s vision of transforming Africa’s mining industry through local value addition and industrialization.

The minister criticized the traditional model of exporting raw materials for processing abroad, which he said results in lost economic opportunities and jobs for Africa.

He proposed shifting towards local value addition—processing raw minerals into finished products within Africa—as a means of enhancing the continent’s economic independence and contributing significantly to its GDP.

“We are transitioning from commercialization to industrialization. By processing and manufacturing raw minerals into finished goods, we can create jobs, reduce our reliance on imports, and increase the contribution of the solid minerals sector to our GDP,” Alake said.

He acknowledged that while Africa faces considerable developmental challenges, its natural wealth offers a pathway to prosperity if utilized effectively.

General Secretary of AMSG, Mr. Moses Michael Engadu, set the tone for the discussion by calling for a new vision and political will among African leaders to ensure that value addition becomes a mandatory condition for granting mineral licenses to investors.

The roundtable saw participation from investors, development partners, multilateral institutions, and major financial organizations.