LAGOS – President Bola Tinubu mentioned that Africa’s lack of progress is due to its dependency on external nations for the processing and production of its mineral wealth.
Tinubu spoke at the African Minerals Strategy Group (AMSG) meeting, which took place during the 79th Session of the United Nations General Assembly in New York. Represented by Vice-President Kashim Shettima, he emphasized the vast mineral wealth of the continent.
Tinubu pointed out that Africa holds a significant share of the world’s platinum, cobalt, and manganese, yet it remains underdeveloped because it relies on exporting raw minerals for processing overseas.
The Nigerian leader emphasized the importance of enhancing the value of these minerals locally, cautioning that the ongoing practice of buying back finished goods at higher prices sustains poverty.
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“He mentioned, ‘This simply strengthens the basis of our suffering,’” he remarked.
Tinubu also urged Africa to liberate itself from the recurring pattern of exploitation, promoting the localization of the complete mineral value chain.
Nigeria’s leader pledged Nigeria’s dedication to this goal under the guidance of Dele Alake, the country’s Minister of Solid Minerals Development.
The AMSG seeks to shift Africa from being a mere provider of raw materials to a significant player in the global mining sector by focusing on industrialization and enhancing local value.
