By Samira Usman Adam
President Bola Ahmed Tinubu has urged African nations to take charge of financing their mineral wealth and assert stronger control over global supply chains, stressing that the continent must break free from dependence on foreign capital to fully benefit from its vast natural resources.
Speaking through Vice President Kashim Shettima at the Second Africa Minerals Strategy Group (AMSG) High-Level Roundtable on Critical Minerals Development in Africa, held on the sidelines of the 80th United Nations General Assembly (UNGA) in New York, Tinubu declared that Africa’s sovereignty hinges on its ability to fund, manage, and industrialise its mineral economy.
“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,” the President said.
Tinubu called for African unity in guarding critical resources such as cobalt, lithium, graphite, gold, and rare earth elements, positioning the continent as a bloc with the power to influence global supply chains.
Four-Point Roadmap for Africa’s Mineral Renaissance
The President outlined a four-pronged strategy to unlock the continent’s mineral-driven prosperity:
- Climbing the Value Chain: Ending the cycle of exporting raw minerals while importing finished products. Africa, he said, must focus on beneficiation and green manufacturing to build industries on its soil.
- Owning Geological Knowledge: Through the African Minerals and Energy Resource Classification (AMREC) and the Pan-African Resource Reporting Code (PARC), Africa will generate, standardise, and control its geological data.
- Accelerating Exploration & Mapping: Governments must lead in mineral exploration and geological surveys, as “without exploration, there is no sovereignty.”
- Financing the Future: Harnessing sovereign wealth funds, innovative instruments, and partnerships to ensure Africa independently funds its mineral sector.
Tinubu commended countries such as Zimbabwe, Gabon, and Kenya for enforcing export restrictions on raw minerals to promote domestic processing, while affirming Nigeria’s commitment to similar reforms under the Renewed Hope Agenda.
Global Support and Partnerships
The roundtable also featured calls for stronger partnerships. UN Assistant Secretary General Ahunna Eziakonwa warned against unchecked exploitation of African resources, urging leaders to negotiate partnerships that guarantee technology transfer, beneficiation, and job creation.
The European Union Commissioner for International Partnership, Jozef Stkela, highlighted the EU’s Critical Raw Materials Act (2024) and ongoing collaborations with African states to diversify supply chains.
Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, who chairs the AMSG, underscored that Africa’s mineral resources are “indispensable for global sustainable development” and remain central to the continent’s industrialisation drive.
Nigeria as a Beacon for Investors
Beyond minerals, Vice President Shettima used the UNGA sidelines to woo investors during a roundtable hosted by the Business Council for International Understanding (BCIU) in partnership with Flour Mills of Nigeria and other conglomerates.
He assured investors that Nigeria, under President Tinubu’s sweeping economic reforms, has “turned the corner” and now offers the best environment for business. He also met with Austrian Chancellor Christian Stocker to explore deeper bilateral ties.
A Call to Rewrite Africa’s Story
Concluding his remarks, President Tinubu pledged Nigeria’s unwavering commitment to the AMSG’s mission:
“As Chair of this Roundtable, I pledge Nigeria’s unflinching commitment to ensuring that AMSG fulfils its promise of catalysing a mineral-led renaissance. Let us rise from this dialogue with a communiqué of clarity, a framework for action, and a spirit of unity.”
The AMSG meeting signals Africa’s determination to transform its mineral wealth into a lever for economic sovereignty and global influence—a bold step towards rewriting the continent’s story of extraction into one of empowerment and shared prosperity.
