Nigeria and AfDB advocate for greater African control over critical minerals
via Punch Nigeria13 min read
The Federal Government of Nigeria and the African Development Bank have called for increased African control over the continent's mineral resources. This call was made by the Minister of Solid Minerals Development, Dele Alake, at the Ministerial Forum on Critical Minerals in Abidjan, C么te d鈥橧voire. Alake emphasized that Africa should cease exporting raw materials and importing finished products made from the same resources. He proposed establishing a West African minerals processing corridor from Lagos to Dakar, similar to the Lobito Corridor, to foster regional collaboration, shared infrastructure, and value addition. The forum, which gathered over 20 ministers and representatives from financial institutions, highlighted the opportunity for Africa to industrialize through its mineral wealth amid global competition for critical minerals used in electric vehicles and renewable energy. Both Nigeria and the AfDB stressed the importance of data sovereignty, regional cooperation, and strategic financing to ensure African countries derive greater economic value from their natural assets. The Abidjan Declaration, adopted at the forum, places financing at the core of transforming Africa's solid minerals sector, with the AfDB pledging financial and technical support. Participants reaffirmed that stronger African cooperation, control of mineral data, integrated regional infrastructure, local value addition, and strategic financing are crucial for sustainable economic transformation.
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