Vice President Kashim Shettima has urged African countries to move away from exporting raw mineral resources and focus on processing, industrialisation and manufacturing to ensure greater economic benefits from the continent’s vast mineral wealth.
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 living around mineral deposits continued to experience poverty.
The Vice President also cautioned African countries against competing for mining investments by offering lower royalties, weaker local-content requirements and excessive concessions.
Instead, he advocated stronger continental cooperation, regional processing hubs and cross-border mineral corridors to increase Africa’s bargaining power and strengthen its position in global mineral supply chains.
Shettima highlighted Nigeria’s ongoing mining reforms, including efforts to promote local value addition, improve geological data, 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 mineral beneficiation.
The Vice President also backed the Africa Minerals Strategy Group’s Mutual Assured Development Framework, which calls for predictable policies and credible institutions from governments, alongside responsible investment, technology transfer and local value creation from investors.
He further urged African leaders to move the Continental Integration and Economic Assurance Declaration beyond its signing ceremony by developing clear implementation timelines, financing mechanisms and accountability measures.
According to him, the real success of Africa’s mineral strategy should be measured by the development of roads, railways, factories, competitive African businesses, skilled employment and improved living conditions in mining communities.
At the meeting, Minister of Solid Minerals Development and Chairman of the Africa Minerals Strategy Group, Dele Alake, proposed an African Artisanal Mining Formalisation and Safety Facility.
Alake said the proposed facility would help African countries formalise artisanal mining, improve licensing and cooperative formation, provide geological support and safer equipment, strengthen occupational health and safety training, and support environmental rehabilitation.
He said the initiative was particularly important given recent mining accidents across parts of Africa.
The meeting brought together African ministers, development finance institutions, multilateral organisations and executives from mining, technology and processing companies.
A representative of the United States Government and Special Adviser to the US State Department’s Bureau of African Affairs, Chris Kulukundis, also expressed the US government’s readiness to partner with African countries in developing the continent’s mineral resources.
A major outcome of the meeting was the signing of the Continental Integration and Economic Assurance Declaration, aimed at establishing a framework for cooperation among member countries on critical minerals, value addition and policy coordination.