African countries have been urged to take control of their natural resources and add value to them before export.
Speaking at the 4th African Natural Resources and Energy Investment Summit (AFNIS) 2025 in Abuja, the nation’s capital, Nigeria’s Minister of Solid Minerals Development, Dr. Oladele Alake, emphasised that Africa’s mineral wealth holds immense potential for meeting sustainable development goals.
Dr. Alake said, “We seek to build a future where Africa’s natural wealth is no longer a statistic in someone else’s report. We aspire to a continent where its natural wealth serves as a driving force for industrial growth, equity, and sustainable development.”
He highlighted Nigeria’s progress in implementing reforms to formalise mining and boost domestic value addition.
The Minister noted that the government has introduced policies to require local processing of minerals before export and has increased enforcement. “We have implemented sweeping reforms to formalise mining and boost domestic value addition,” Dr. Alake said. These reforms aim to unlock Africa’s economic potential and promote sustainable development.
Alake’s call to action emphasises the need for African countries to harness their natural resources to drive economic growth, industrialization, and sustainable development. By taking control of their resources and adding value to them, African countries can unlock their full potential and achieve their development goals.
He announced that the country’s mining sector secured over $800 million in investments for processing projects last year, leading to a substantial increase in government revenues, rising from ₦6 billion in 2023 to ₦38 billion in 2024.
The Minister highlighted Nigeria’s efforts to promote local manufacturing of electric vehicles and batteries. “The government has signed a deal to build a lithium-ion battery manufacturing and processing factory and plans to establish electric vehicle assembly plants. We are fostering the battery and EV industries in Nigeria,” Alake said.
He called on African countries to replicate Nigeria’s shift towards value addition and industrialisation. He emphasised that Africa’s mineral wealth should be used to drive industrial growth, equity, and sustainable development. “Let us build a continent where Africa’s natural wealth serves as a driving force for industrial growth, equity, and sustainable development,” Alake urged.
Hauwa Abu