President Bola Tinubu has called for a complete overhaul of the global financial architecture governing Africa’s mineral resources.
Represented by Vice-President Kashim Shettima, Tinubu made the call at the Second Africa Minerals Strategy Group (AMSG) High-Level Roundtable on Critical Minerals Development, held on the margins of the 80th United Nations General Assembly in New York.
He stressed that Africa must finance its mineral sector and assert greater control over global supply chains to protect sovereignty.
“We must take the bull by the horns in financing our future. Never again shall we wait for capital to trickle in. With sovereign funds, blended vehicles, and innovation tools like the Africa Mineral Token, Africa shall finance Africa,” Tinubu said.
Highlighting critical resources such as cobalt, lithium, graphite, gold, and rare earths, he called for a united continental bloc to wield collective power. He also urged African leaders to break the “ignoble cycle” of exporting raw minerals and importing finished goods.
Tinubu outlined four key imperatives:
- Move up the value chain by building industries through beneficiation and green manufacturing.
- Standardise and own geological data with the African Minerals and Energy Resource Classification (AMREC) and Pan-African Resource Reporting Code (PARC).
- Accelerate government-led mineral exploration and national geological mapping.
- Strengthen collaboration under the AMSG to pool expertise and resources.
He cited reforms in countries like Zimbabwe, Gabon, and Kenya that have restricted raw mineral exports, pledging that Nigeria is pursuing similar policies under his Renewed Hope Agenda.
Commending Nigeria’s Solid Minerals Minister, Dr. Dele Alake, who chaired the event, Tinubu reaffirmed Nigeria’s commitment to driving a mineral-led renaissance for the continent.
Other speakers, including UNDP’s Ahunna Eziakonwa and EU Commissioner Jozef Stkela, urged African leaders to prioritise fair partnerships, technology transfer, and job creation while positioning Africa strategically in the global minerals market.
On the sidelines of the UNGA, Shettima also engaged global investors at a business roundtable and met Austria’s Chancellor, Christian Stocker, where both leaders agreed to deepen bilateral cooperation.
