Tinubu Advocates for African Alliance to Boost Local Mineral Processing

Nigerian President Bola Ahmed Tinubu has championed a new era of African economic self-sufficiency, calling for a united continental approach to the extraction and processing of critical minerals. Speaking at a UN General Assembly side event in New York, Tinubu emphasized the need for African nations to move beyond exporting raw materials and instead focus on local processing, manufacturing, and value addition.

Tinubu highlighted minerals such as cobalt, copper, lithium, and rare earth elements, which are crucial for global supply chains in clean energy and advanced manufacturing. He argued that Africa must ensure its vast mineral wealth translates into tangible benefits for its own people, fostering job creation, infrastructure development, and the growth of African-owned enterprises.

The Nigerian President warned against a fragmented approach where countries compete by offering lower royalties and concessions, which he stated weakens the continent’s collective bargaining power. “Fragmentation leaves us exporting raw materials and buying finished goods at a premium. Cooperation gives our markets scale, our industries integration, our financing reach and our negotiations authority,” he stated.

During the roundtable, Tinubu showcased Nigeria’s recent reforms in the mining sector, including increased revenue generation and efforts to attract foreign investment for local processing. He encouraged other African countries to adopt similar strategies, tailored to their specific circumstances, while advocating for partnerships based on mutual benefit and shared responsibility.

Discussions also revolved around a proposed Continental Integration and Economic Assurance Declaration (CIEAD), intended to create a unified framework for developing Africa’s mineral value chains. The initiative aims to foster a predictable investment environment and harmonize policies across member states. The need for clear implementation timelines, financing mechanisms, and accountability was stressed.

This push for greater cooperation and local processing reflects a growing trend among African governments to harness the continent’s rich mineral resources for sustainable development and economic independence.

Source: Nile Post