By Bolaji Ogundele,The Nation

Copyright thenationonlineng

With a warning that the current global financial architecture cannot guarantee sovereignty, President Bola Ahmed Tinubu yesterday urged African nations to take full ownership of their mineral resources by financing their sectors and asserting influence in global supply chains.

Tinubu spoke through the Vice President, Kashim Shettima, at the Second Africa Minerals Strategy Group (AMSG) High-Level Roundtable on Critical Minerals Development in Africa, held on the sidelines of the 80th Session of the United Nations General Assembly (UNGA) in New York.

A statement by the Senior Special Assistant on Media and Communications, Office of the Vice President, Stanley Nkwocha, said Tinubu stressed the need for the continent to act collectively to protect its resources.

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“Firstly, 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,” said Tinubu.

The President stressed that African states must guard critical minerals such as cobalt, lithium, graphite, gold, and rare earths as one continental bloc, rather than fragmented states, to wield real power in global supply chains.

He pledged Nigeria’s commitment to catalysing a mineral-led renaissance under his Renewed Hope Agenda, urging African leaders to end what he called the “ignoble cycle” of importing finished goods while exporting raw rocks.

The President outlined four key imperatives for unlocking Africa’s mineral economic future:

“African nations must climb the value chain by establishing beneficiation and green manufacturing industries on the continent. We must end the ignoble cycle of exporting rocks and importing finished goods. From beneficiation to green manufacturing, Africa must build industries on African soil,” he said.

Secondly, he noted that Africa must take ownership of its geological knowledge through the African Minerals and Energy Resource Classification (AMREC) and the Pan-African Resource Reporting Code (PARC).

“We will no longer beg for geological knowledge of our own land. Africa’s data will be mapped, standardised, and owned by Africans,” he stated.

Thirdly, Tinubu called for accelerated, government-led mineral exploration and national geological mapping, stressing that “without exploration, there is no sovereignty. Without mapping, there is no value.”

He urged every member state to prioritise country-wide surveys, strengthen geological agencies, and pool expertise through AMSG, adding, “for when Africa owns the map, Africa owns the future.”

Fourthly, he insisted that Africa must finance its own future, repeating his call for sovereign funds and innovative tools such as the Africa Mineral Token to be mobilised across the continent.

Tinubu further called for a collective demonstration of leadership and urged sovereign wealth funds, private partners, and development allies to join Africa in rewriting the story of its mineral economy.

He cited recent bold steps by African countries as examples of courage.

Zimbabwe banned the export of raw lithium in 2022, Gabon has announced plans to end manganese exports by 2029, while Kenya is moving to restrict raw gold exports.

Nigeria, he said, is pursuing similar reforms.

“We know this is the road to jobs, to industries, and to prosperity,” he added.

The President praised Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, who chaired the event, and AMSG Secretary-General Moses Michael Engadu of Uganda, for guiding the continent toward productivity and pride.

“As Chair of this Roundtable, I pledge Nigeria’s unflinching commitment to ensuring that AMSG fulfils its promise of catalysing a mineral-led renaissance. Let us rise from this dialogue with a communiqué of clarity, a framework for action, and a spirit of unity,” Tinubu said.

Earlier in his remarks, Dr. Alake called for cohesion among African nations, stressing that with focus, partnership and transparency, the continent could harness the full benefits of its minerals.

He said these resources are indispensable for global sustainable development and remain catalysts for Africa’s rapid industrialisation.

Also speaking, UN Assistant Secretary General and UNDP Regional Director for Africa, Ahunna Eziakonwa, warned leaders to position themselves carefully to avoid exploitation of Africa’s resources.

She said many are already being extracted without commensurate value to Africans.

Eziakonwa urged leaders to prioritise partnerships that deliver technology transfer, beneficiation, and job creation.

On his part, European Union Commissioner for International Partnerships, Jozef Stkela, said the EU had, in recent years, structured its approach to secure critical raw materials.

He explained that the EU adopted the Critical Raw Materials Act in 2024 to boost domestic production and diversify supplies.

“Under this Act and our Global Gateway strategy, we have signed 14 strategic partnerships in the raw materials value chain, of which four are in Africa,” he disclosed.

Relatedly, Vice President Shettima addressed a roundtable hosted by the Business Council for International Understanding (BCIU) in partnership with Flour Mills of Nigeria and other conglomerates.

At the event, he marketed Nigeria’s ongoing economic reforms, urging global investors to seize opportunities in the country.

He said President Tinubu, having lived in the United States, “speaks the language of business” and understands investors’ concerns.

“The Nigerian economy, given the super reforms of the President, has turned the corner. There has never been a time like now to invest in Nigeria, given the enabling environment and the ease of doing business,” Shettima told participants.

The Vice President also held a bilateral meeting with Austrian Chancellor Christian Stocker at the UN Headquarters, where both countries agreed to deepen relations and explore fresh areas of cooperation.

Bola Olajuwon, Development Journalist & Assistant Editor, The Nation Newspapers, Vintage Press Limited, 27B Fatai Atere Way, Matori, Lagos, Nigeria P.M.B. 1025, Oshodi, Lagos.

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Recent awards:

*Environment Reporter of the Year (Nigeria Media Merit Award 2020)

*Nigeria Ports Authority Maritime Reporter of the Year (Nigeria Media Merit Award 2019).

*Runner-up for Keystone CSR Reporter of the Year (Nigeria Media Merit Award 2019).