Paragraph 1: Call for African Sovereignty over Natural Resources
Dele Alake, Nigeria’s Minister of Solid Minerals Development, has issued a resounding call to African nations, urging them to seize control of their natural resources by halting the export of raw minerals and prioritizing domestic value addition. Alake argues that the current practice of exporting unprocessed resources deprives African countries of significant economic benefits, hindering job creation, technological advancement, and sustainable development. He emphasized that Africa’s vast mineral wealth holds immense potential for driving economic growth and achieving continental sustainable development goals, but this potential remains untapped as long as raw materials are exported without local processing.
Paragraph 2: Nigeria’s Success Story: A Model for Africa
Alake highlighted Nigeria’s recent successes in the mining sector as a testament to the transformative power of value addition. In the first quarter of 2025 alone, Nigeria generated N6.95 billion in revenue from mining license fees, a direct result of aggressive reforms implemented by the government. These reforms include streamlined licensing processes, resulting in the issuance of 867 mining licenses within three months. The Mining Cadastre Office processed over 10,000 title applications during this period, demonstrating the surge in interest and activity within the sector. Alake encouraged other African countries to emulate Nigeria’s strategy, emphasizing the need for robust policies to promote local processing and discourage the export of raw minerals.
Paragraph 3: Driving Growth through Value Addition and Investment
Nigeria’s reforms extend beyond licensing, encompassing mandatory local processing plans for all mining licenses and increased enforcement of regulations. These measures have contributed to a significant increase in sector revenues, which rose from N6 billion in 2023 to a record N38 billion in 2024. Furthermore, the reforms have attracted significant foreign investment, with over $800 million flowing into processing-related projects in 2023. Alake attributed this success to tighter regulations, a crackdown on illegal mining activities, and the new policy mandating local processing before export, demonstrating investor confidence in the improved governance framework.
Paragraph 4: The “Renewed Hope Agenda” and Pan-African Collaboration
The minister emphasized that these reforms are inspired by President Bola Tinubu’s “Renewed Hope Agenda,” which prioritizes industrialization, local content development, and economic diversification. He stressed the need for a paradigm shift in Africa’s approach to its natural resources, envisioning a continent where these resources fuel industrial growth, equity, and sustainable development. Alake’s call resonates with broader pan-African sentiments, with Kenyan Cabinet Secretary Hassan Joho echoing the need for African countries to collaborate in creating jobs and wealth, driving transformation within the region and contributing to global development.
Paragraph 5: Beyond Mining: Expanding Local Content in the Power Sector
The focus on local content extends beyond the mining sector, with Nigeria also prioritizing local manufacturers in its efforts to address its electricity needs. Minister of Power, Adebayo Adelabu, announced the government’s commitment to local content development in the power sector as a key driver of economic growth, industrial capacity building, and energy security. Adelabu emphasized that Nigeria is pursuing decentralization, digitization, and decarbonization in its power sector development, aligning with global trends in the energy sector.
Paragraph 6: A Unified Front for Sustainable Development
The African Natural Resources and Energy Investment Summit (AFNIS 2025) serves as a crucial platform for African nations to forge a unified front in attracting green investments, developing clean energy infrastructure, and positioning the continent as a leader in the global energy transition. The Permanent Secretary of the Solid Minerals Development Ministry, Faruk Yusuf Yabo, reiterated the ministry’s dedication to implementing the “Renewed Hope Agenda” through partnerships that prioritize environmental, social, and governance principles. The summit underscores the collective commitment of African nations to leverage their natural resources for sustainable development and economic prosperity.
