President Bola Ahmed Tinubu has called on African nations to take control of their mineral resources and reform the global financial system that has long disadvantaged the continent.
Represented by Vice-President Kashim Shettima, Tinubu made the call at the Second Africa Minerals Strategy Group (AMSG) High-Level Roundtable on Critical Minerals Development in New York, held alongside the 80th Session of the United Nations General Assembly.
In a statement released by his Senior Special Assistant on Media and Communications, Stanley Nkwocha, Tinubu emphasised the urgent need for African countries to finance their mineral sectors independently and assert influence over global supply chains.
“We must take the bull by the horns in financing our future. Never again shall we wait for capital to trickle in. With sovereign funds, blended vehicles, and innovation tools like the Africa Mineral Token, Africa shall finance Africa. To safeguard this sovereignty, we must guard our cobalt, lithium, graphite, gold, and rare earths not as fragmented states but as one continental bloc, wielding collective power in global supply chains,” he said.
Tinubu pledged Nigeria’s commitment to driving a mineral-led renaissance under the Renewed Hope Agenda and urged African leaders to break the cycle of exporting raw materials and importing finished goods. He stressed the importance of accelerating government-led mineral exploration and geological mapping to strengthen sovereignty and unlock the continent’s economic future.
“To unlock Africa’s mineral economic future, we must pursue four key imperatives,” he explained. These include climbing the value chain through beneficiation and green manufacturing, standardising data with African-led reporting codes, prioritising exploration and mapping, and taking proactive ownership of financing with innovative tools.
He pointed to examples of reform already taking place, such as Zimbabwe’s ban on raw lithium exports, Gabon’s planned halt to manganese exports by 2029, and Kenya’s efforts to restrict raw gold exports. Nigeria, he added, is fast-tracking similar measures to create jobs, industrialisation, and prosperity.
Tinubu also commended Nigeria’s Minister of Solid Minerals Development, Dr Dele Alake, who chaired the roundtable, and Uganda’s Secretary-General Moses Michael Engadu for their leadership in guiding Africa towards mineral productivity and pride.
“As Chair of this Roundtable, I pledge Nigeria’s unflinching commitment to ensuring AMSG fulfils its promise of catalysing a mineral-led renaissance. Let us rise with a communiqué of clarity, a framework for action, and a spirit of unity,” he said.
Earlier, Dr Alake stressed the importance of cohesion and transparency among African nations to fully harness the continent’s mineral wealth for sustainable development and industrialisation.
Also speaking, UN Assistant Secretary-General and Africa UNDP Regional Director Ahunna Eziakonwa urged African leaders to maximise benefits from their resources through partnerships that guarantee technology transfer, beneficiation, and job creation.
European Union Commissioner for International Partnership Jozef Stkela highlighted the EU’s 2024 Critical Raw Materials Act, which seeks to diversify supply and boost domestic production. He noted that 14 strategic partnerships on raw materials value chains are already in place, including four with African countries.