Nigeria and AfDB Advocate for African Mineral Control

Nigeria and the African Development Bank (AfDB) have renewed calls for African nations to take greater control of the continent's mineral resources through local value addition and regional cooperation. This was articulated at the Ministerial Forum on Critical Minerals, Value Chain and Beneficiation in Abidjan, Côte d’Ivoire.

Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, urged mineral-producing countries to abandon isolated approaches and adopt a coordinated strategy for economic benefits.

He stressed the importance of developing actionable strategies for full control over mineral assets and proposed the adoption of the Pan African Resource Reporting Code (PARC) to enhance transparency in mineral reporting. Alake also suggested establishing a West African minerals processing hub from Lagos to Dakar to reduce investment costs and facilitate trade.

He expressed concern over Africa's weak trade integration, with intra-African trade at only about 16 percent. Dr.

Sidi Ould Tah, President of the AfDB, noted the paradox of Africa's vast mineral wealth not translating into economic gains.