BREAKING: Tinubu Calls for United African Resource Strategy as Nigeria’s Mining Revenue Rises from N6bn to N70bn

President Bola Tinubu has called on African countries to unite in developing the continent’s vast natural resources, insisting that Africa must move beyond exporting raw materials and begin creating value through local processing, manufacturing, and industrialisation.

The President’s message was delivered by the Minister of Solid Minerals Development, Dele Alake, who represented him at the Africa Natural Resources and Energy Investment Summit (AFNIS) 2026, held at the Presidential Villa, Abuja, this Wednesday.

Speaking on the summit’s theme, “One Africa, One Resource Vision,” Tinubu said Africa’s future prosperity depends on its ability to process its resources, build industries, and retain more value within the continent.

He said Africa must no longer export raw minerals and import finished products, stressing that the continent’s wealth should translate into jobs, technology transfer, industrial growth, and economic prosperity for its people.

The President noted that Africa occupies a strategic position in the global energy transition because of its abundant deposits of critical minerals needed for electric vehicles, renewable energy systems, and advanced manufacturing.

Tinubu also urged African governments to strengthen regional cooperation, harmonise policies, expand cross-border infrastructure, and deepen intra-African trade to unlock the continent’s economic potential.

In a keynote address, Alake said Nigeria’s ongoing reforms in the solid minerals sector have significantly boosted government earnings, with revenue rising from about N6 billion before the reforms to over N38 billion in 2024 and exceeding N70 billion by the end of 2025.

According to the minister, the increase followed measures to improve transparency, strengthen regulatory oversight, enforce compliance, and promote value addition within the mining industry.

He disclosed that more than 3,000 dormant and non-performing mining licences had been revoked to discourage speculation and ensure that mineral assets are developed by serious investors.

Alake said the government’s local value-addition policy is already attracting major investments, including an $800 million lithium processing project, a $600 million lithium processing facility in Nasarawa State, a $200 million lithium processing plant awaiting commissioning, and a newly completed $50 million lithium factory in the Federal Capital Territory.