Vice President Kashim Shettima has urged African countries to move beyond exporting raw minerals and focus on processing and manufacturing within the continent.
Shettima made the call while representing President Bola Tinubu at the Third High-Level Roundtable of the Africa Minerals Strategy Group in New York. The meeting was held on the sidelines of the ongoing United Nations General Assembly in New York, United States.
Shettima said Africa could not consider itself wealthy while communities around mineral deposits continued to live in poverty.According to him, the continent must translate its vast mineral wealth into tangible development for its people.
He stressed that the current model of exporting raw minerals without value addition has kept Africa at the bottom of the global value chain.
The Vice President noted that Africa is home to some of the world’s most critical minerals needed for global energy transition and industrialization. He said it was time for the continent to leverage its resources for inclusive growth and industrial development.
Shettima called for stronger continental cooperation in the mining sector.He warned African countries against competing for investment by offering lower royalties, weaker local-content requirements and excessive concessions.
According to him, such unhealthy competition only shortchanges African nations and benefits external interests.He said Africa must speak with one voice and adopt a common strategy to maximize benefits from its mineral resources.
Shettima also highlighted Nigeria’s ongoing mining reforms under President Bola Tinubu’s administration.He said the reforms are aimed at repositioning the sector as a key driver of economic diversification.
One of the major focus areas, he said, is promoting local value addition to minerals before export.The government, he noted, is also working to improve geological data to attract credible investors.
Shettima added that efforts are ongoing to formalise artisanal mining activities across the country.He said the formalisation would help create jobs, increase government revenue and reduce environmental degradation.
The Vice President also spoke on the government’s crackdown on illegal mining operations.He said tackling illegal mining is critical to securing Nigeria’s mineral assets and protecting host communities.
Shettima told the gathering that Nigeria is open to partnerships that promote beneficiation and manufacturing within Africa.He called on the Africa Minerals Strategy Group to develop frameworks that ensure Africa benefits fairly from its resources.
According to him, Africa must move from being a supplier of raw materials to becoming a hub for processing and manufacturing.He said the time has come for Africa to industrialise and create value for its youthful population.
The Africa Minerals Strategy Group was established to coordinate Africa’s approach to mineral resource governance.The roundtable brought together ministers, policymakers and stakeholders from across the continent.
Discussions centred on value addition, investment, sustainability and community development.Shettima’s remarks were well received by participants who agreed on the need for a unified African minerals strategy.
The Federal Government said it will continue to push for reforms that ensure Nigeria’s solid minerals sector contributes significantly to national development.
