President Bola Ahmed Tinubu, has called for a total rephase in the global financial architecture of Africa’s mineral resources, saying it was time for its nations to begin to not only finance its mineral sector but also assert their influence and power in the African products’ global supply chains.
This the President stated had become necessary if African nations’ sovereignty is to be protected, just as he recommended collective action by development allies and partners, to bring Africa’s mineral economy to reality for the benefit of the continent.
President Tinubu, represented by Vice President Kashim Shettima, called for these decisive actions at the Second Africa Minerals Strategy Group (AMSG) High-Level Roundtable on Critical Minerals Development in Africa, held on the margins of the 80th Session of the United Nations General Assembly, New York City.
Pledging Nigeria’s commitment towards catalyzing a mineral-led renaissance under the Renewed Hope Agenda, as exemplified back home, President Tinubu urged African leaders to end the “ignoble cycle” of importing finished goods through accelerated government-led mineral exploration.
To unlock Africa’s mineral economic future, the President said the objective will materialize based on four imperatives.
The President demanded a collective demonstration of leadership while calling upon sovereign wealth funds, private partners, and development allies to join Africa in rewriting the story of Africa’s mineral economy.
Earlier, Dr. Dele Alake while welcoming stakeholders and partners to the event called for cohesion amongst African nations saying with determined focus and a reinvigorated sense of partnership and transparency in the minerals sector, Africa will harness in all ramifications the total benefits of a sustained, deepened and well harmonised mineral sector, adding that, “these resources are indispensable for global sustainable development and remain catalyst for Africa’s rapid industrialisation”.
