Alake to African nations: Leverage mineral wealth for industrialisation
Dele Alake, Nigeria’minister of solid minerals development, has urged African nations to transform their vast mineral wealth into a foundation for industrialisation rather than remain suppliers of raw materials to global markets.
Speaking at the African Mining Week in Cape Town, South Africa, Alake, who chairs the African Minerals Strategy Group (AMSG), called for a unified vision to make minerals the fulcrum of Africa’s transformative industrialization.
“Africa’s minerals have powered industrialisation elsewhere while our own economies remain under-industrialized. This paradox must end,” he stated.
Represented by Farouk Yabo, permanent secretary to the ministry, the minister outlined Nigeria’s reforms aimed at boosting local value addition, including gold refining, lithium processing, and the revocation of dormant licenses to attract credible investors.
He stated that Nigeria is digitizing mining processes to enhance transparency and traceability, while working to amend the 2007 Minerals and Mining Act to strengthen the sector’s legal framework.
Alake also emphasized that all Nigerian minerals will henceforth be traceable to either licensed holders or registered artisanal and small-scale miners.
At the AMSG ministerial roundtable, the minister highlighted Nigeria’s commitment to building strong institutions and policies that will help achieve the country’s $1 trillion economy target by 2030.
He further urged African countries to prioritize geological mapping and effective supervision of mining operations, noting that only licensed operators should be allowed to mine.
Nigeria was also featured in the Country Spotlight Session, where Yabo presented investment opportunities in the nation’s solid minerals sector and incentives available to investors.
The event was attended by mining ministers from DRC, Zimbabwe, and Sierra Leone, alongside representatives from Ghana, Gambia, and major private sector players across the continent, according to a statement signed by Segun Tomori, special assistant on Media to the minister of Solid Minerals Development.
