Nigeria, AfDB Back Local Processing and African Control of Mineral Wealth
Nigeria and the African Development Bank have urged African countries to gain more control over their mineral wealth by prioritising local processing, regional cooperation and stronger financing. At the Critical Minerals, Value Chain and Beneficiation Forum in Abidjan, Solid Minerals Development Minister Dele Alake said Africa must move beyond exporting raw materials. He proposed a West African mineral-processing corridor from Lagos to Dakar, allowing countries to share infrastructure, trade more easily and reduce project costs. Alake also called for Africa to adopt the Pan African Resource Reporting Code instead of relying on foreign mineral-reporting standards. AfDB President Sidi Ould Tah said poor financing and low investment have limited the continent’s gains from its critical-mineral deposits. Participants adopted the Abidjan Declaration, with AfDB pledging financing tools and technical support for strategic mining projects, infrastructure and sustainable mineral value chains.
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