PRESIDENT Bola Tinubu says Africa holds the key to the world’s industrial future because of its critical minerals.
Tinubu spoke on Wednesday in Abuja while opening the fifth African Natural Resources and Energy Summit (AFNIS).
The summit, with the theme, ‘One Africa, One Resource Vision’, focused on Africa’s resource-driven transformation.
Represented by the Minister of Solid Minerals Development, Dr Dele Alake, Tinubu stressed Africa’s global importance.
“There can be no true industrial future without Africa,” he said, adding that a secure supply of critical minerals was impossible without the continent.
He warned against Africa remaining only a supplier of raw materials while others capture the value. “There can be no just global order if Africa remains merely a supplier of raw materials,” Tinubu said.
He said Africa must abandon fragmented approaches and unite to negotiate from a position of strength, and urged African countries to build shared strategies for resources, energy and industrial growth.
“Africa must no longer export the future in raw form and import poverty in finished form,” he said, as he called for more refining, processing, manufacturing and stronger local value chains across the continent.
“We must power our factories, train our engineers and build our own value chains,” Tinubu stated.
The President said Nigeria’s Renewed Hope Agenda aligned with the vision of resource-based development, while also noting that Nigeria was building a diversified economy driven by production and investment. “We are strengthening the foundations for industrial growth, energy access and job creation,” he said.
Tinubu urged African nations to harmonise regulations and reduce barriers to intra-African trade as he also advocated stronger infrastructure, local enterprise support and transparent investment frameworks.
The President called for a new resource compact that would transform Africa’s resources into prosperity.
Earlier, Alake said Africa’s resource future could not be secured through isolated actions, noting that minerals, energy systems, infrastructure and markets must work together across borders.
“The gas field in one region should support power and industrial growth across borders,” Alake said, adding that mineral corridors should support manufacturing, logistics and export opportunities.
The minister said rising demand for critical minerals had placed Africa at the centre of global development. However, he noted that natural resources alone could not guarantee economic transformation.
Alake said credible regulation, infrastructure, technology and skills were required to unlock Africa’s potential. He said Nigeria was strengthening mining regulations and improving transparency within the sector.
According to him, mineral operators must have the capacity and commitment to develop assets. He also said Nigeria remained open to investors willing to process locally and create jobs.
He stressed that technology transfer, community respect and transparency were crucial for partnerships. The minister identified innovative financing as vital to Africa’s mineral and energy expansion. He also described infrastructure gaps as major obstacles limiting resource development.
“Transport, power and logistics gaps continue to limit Africa’s full potential,” he said, as he urged participants to support bankable projects and regional value chains. “Let this summit move us closer to an Africa that shapes value and builds industries,” he said. (NAN)
