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 maximize economic value from these assets. During the Ministerial Forum on Critical Minerals, Value Chain and Beneficiation in Abidjan, Côte d’Ivoire, Nigerian Solid Minerals Development Minister 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 greater ownership of mineral development. Dr. Sidi Ould Tah, President of the AfDB, 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 need for African countries to move beyond traditional raw mineral extraction and develop actionable strategies for economic independence. Alake, also the Chair of the Africa Mineral Strategy Group, stressed the importance of achieving sovereignty over data and technical systems for assessing mineral wealth.