By Stephen Simon
The Federal Government and the African Development Bank (AfDB) have called for stronger African ownership and control of the continent’s vast critical mineral resources, urging countries to prioritise local processing, regional cooperation and value addition to drive industrialisation and economic growth.
The call was made at the Ministerial Forum on Critical Minerals, Value Chain and Beneficiation held in Abidjan, Côte d’Ivoire, where Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, said Africa must move away from exporting raw minerals and instead develop industries capable of producing finished products on the continent.
Alake stressed that Africa’s abundant deposits of lithium, cobalt, graphite and other critical minerals should become a catalyst for economic transformation, job creation and industrial development rather than serving as raw materials for industries outside the continent. He urged African countries to adopt a coordinated approach to developing the mining sector.
As part of the proposal, the minister advocated the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, saying such regional infrastructure would reduce costs, promote investment and enable participating countries to share both the risks and benefits of mineral development.
President of the AfDB, Dr. Sidi Ould Tah, said Africa possesses nearly 30 per cent of the world’s critical mineral resources but continues to derive only limited economic benefits because of inadequate processing capacity and weak regional value chains. He urged governments to implement policies that would ensure greater value addition before exports.
Participants at the forum also advocated stronger regional collaboration, strategic financing and improved geological data management to attract investment and strengthen Africa’s competitiveness in the global critical minerals market. They agreed that integrated infrastructure and harmonised policies would help unlock the sector’s full potential.
The meeting concluded with a renewed commitment by African governments and development partners to accelerate reforms that would enable the continent to retain more value from its natural resources, diversify its economies and position Africa as a major player in the global energy transition.
