Speaking on Tuesday 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, represented by Vice-President Kashim Shettima, said Africa must act decisively to protect its sovereignty and economic future.
“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,” Tinubu declared.
“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.”
Four-Point Agenda for Africa’s Mineral Future
The president outlined four key steps to unlock Africa’s mineral potential:
- Climbing the Value Chain: Tinubu urged African nations to end the “ignoble cycle” of exporting raw materials and importing finished goods, instead prioritizing beneficiation and green manufacturing on African soil.
- Data Ownership: He announced the launch of the African Minerals and Energy Resource Classification (AMREC) and the Pan-African Resource Reporting Code (PARC), ensuring Africa takes ownership of geological data.
- Government-Led Exploration: Tinubu emphasized the need for accelerated exploration and geological mapping, citing reforms in Nigeria, Uganda, Zimbabwe, Burkina Faso, Mali, Botswana, Gabon, and Ghana as examples.
- Domestic Beneficiation Policies: He praised countries like Zimbabwe (ban on raw lithium exports), Gabon (plan to end manganese exports by 2029), and Kenya (restrictions on raw gold exports) for taking bold steps toward value retention.
Nigeria’s Commitment
Tinubu pledged Nigeria’s support under his Renewed Hope Agenda to catalyze a mineral-led renaissance, crediting Solid Minerals Development Minister Dele Alake and AMSG Secretary-General Moses Michael Engadu for steering Africa towards a new path of resource sovereignty.
“As Chair of this Roundtable, I pledge Nigeria’s unflinching commitment to ensuring that AMSG fulfils its promise of catalyzing a mineral-led renaissance. Let us rise with a framework for action and a spirit of unity,” Tinubu added.
Voices from the Forum
- Dele Alake called for greater cohesion among African nations, stressing that transparency and partnership in the minerals sector are key to unlocking rapid industrialization.
- Ahunna Eziakonwa, UNDP Regional Director for Africa, warned against exploitative practices, urging African leaders to prioritize partnerships that deliver technology transfer, beneficiation, and jobs.
- Josef Sktkela, EU Commissioner for International Partnerships, highlighted the EU’s Critical Raw Materials Act (2024) and ongoing strategic partnerships with African nations, aimed at diversifying Europe’s mineral supply chains.
Nigeria’s Economic Push
On the sidelines of the UNGA, Vice-President Shettima held discussions with global investors at a roundtable hosted by the Business Council for International Understanding (BCIU). He assured them of Nigeria’s ongoing economic reforms, describing President Tinubu as an ally of global business.
“The Nigerian economy has turned the Rubicon,” Shettima said, citing improved stability, reforms, and a more enabling business environment. He also met with Austrian Chancellor Christian Stocker, where both nations agreed to explore new avenues of cooperation.
