Vice President Kashim Shettima has urged African countries to stop relying on the export of raw mineral resources and instead focus on processing, manufacturing and other forms of value addition on the continent.
Shettima made the call while representing President Bola Tinubu at the Third Africa Minerals Strategy Group High-Level Roundtable in New York.
He said Africa could not consider itself wealthy when communities located around mineral deposits continued to experience poverty.
The Vice President called for greater coordination among African countries, warning against competition for investment through lower royalties, weaker local-content requirements and excessive concessions.
He advocated integrated markets, regional processing hubs and cross-border mineral corridors to help African countries achieve greater scale and strengthen their position in global mineral supply chains.
Shettima also highlighted Nigeria’s mining reforms, including efforts to promote local value addition, improve geological information, formalise artisanal mining and tackle illegal mining.
He cited growing mining revenues and investments in lithium processing in Nasarawa State as examples of the opportunities available through domestic processing.
The Vice President also backed the Africa Minerals Strategy Group’s Mutual Assured Development Framework, which calls for predictable government policies and credible institutions, alongside responsible investment, technology transfer and local value creation.
Meanwhile, Minister of Solid Minerals Development and Chairman of the Africa Minerals Strategy Group, Dele Alake, proposed the establishment of an African Artisanal Mining Formalisation and Safety Facility.
Alake said the facility could help African countries formalise artisanal mining operations, improve access to safer equipment, provide occupational health and safety training and support environmental rehabilitation.
The roundtable brought together African ministers, development finance institutions, multilateral organisations and executives from mining, technology and processing companies.
A major outcome of the meeting was the signing of the Continental Integration and Economic Assurance Declaration, which is expected to provide a framework for cooperation on critical minerals, including value addition and policy coordination.
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