Nigeria and AfDB Push for African Mineral Control

Nigeria and the African Development Bank (AfDB) have called for enhanced African control over the continent's mineral resources, advocating for data sovereignty, regional collaboration, and strategic financing to ensure mineral-rich countries derive greater economic value from their assets. At the Ministerial Forum on Critical Minerals, Value Chain and Beneficiation: Pathways for African Transformation in Abidjan, Côte d’Ivoire, Nigeria’s solid minerals development minister, Dr. Dele Alake, urged African ministers to adopt a strategic approach to interdependence and cooperation.

He emphasized that Nigeria, as a mineral-rich country, is committed to promoting local processing and ownership of mineral development. AfDB president, Dr. Sidi Ould Tah, pointed out the paradox of Africa's vast mineral wealth not translating into significant GDP gains and the low levels of Foreign Direct Investment (FDI) in the continent.

Both leaders agreed on the necessity for African countries to move beyond traditional raw mineral extraction and develop actionable strategies for economic independence.