Nigeria, AFDB Back African Mineral Local Value Addition
Nigeria and the African Development Bank are advocating for regional cooperation to increase the economic value of Africa's mineral resources. The initiative aims to move beyond raw material exports by fostering local value addition and strategic financing.
Why it matters
This shift could significantly alter global supply chains for critical minerals and improve the economic stability of mineral-rich African nations.
Nigeria and the African Development Bank (AfDB) have called for stronger African control over the continent’s vast mineral resources, advocating data sovereignty, regional collaboration and strategic financing as essential to ensuring that mineral-rich countries in Africa derive greater economic value from their natural assets.
Addressing the Ministerial Forum on Critical Minerals, Value Chain and Beneficiation: Pathways for African Transformation, held under the auspices of the African Development Bank (AfDB) in Abidjan, Côte d’Ivoire, Solid Minerals Development Minister, Dele Alake, urged fellow ministers from Africa’s mineral-producing countries to adopt a strategic approach to interdependence and regional cooperation.
The forum brought together more than 20 ministers responsible for mining, energy, industry, natural resources and the green economy, as well as representatives of the African Development Bank, the African Export-Import Bank (Afreximbank), the US Export-Import Bank and mining companies from Germany, Canada and the United States, among others.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in