Alake Calls On Africa To End Raw Mineral Exports, Embrace Value Addition

"Africa's current generation has a responsibility to replace the long-standing model of unequal trade with one that delivers shared prosperity through industrialisation, efficient mineral exploration, responsible extraction and prudent utilisation of revenues from the sector." Alake

.... "We want to stop the exportation of prosperity and the importation of poverty."

Nigeria's Honourable Minister of Solid Minerals Development, Dr. Dele Alake, has renewed calls for African nations to end the export of raw minerals, insisting that the continent must stop "exporting prosperity and importing poverty" by prioritising value addition and local processing of its vast mineral resources.

Speaking at the closing ceremony of the 5th African Natural Resources and Energy Investment Summit (AFNIS 2026) in Abuja on Thursday, Alake said Africa's continued export of raw materials, only to import expensive finished products, had perpetuated economic dependence and denied the continent the full benefits of its natural wealth.

According to the Minister, Africa's current generation has a responsibility to replace the long-standing model of unequal trade with one that delivers shared prosperity through industrialisation, efficient mineral exploration, responsible extraction and prudent utilisation of revenues from the sector.

"We want to stop the exportation of prosperity and the importation of poverty," Alake declared, adding that all discussions and policy proposals at the summit were geared towards achieving that objective.

He stressed that the challenges confronting African countries should not discourage leaders but rather inspire them to pursue practical solutions capable of transforming the continent's mineral wealth into sustainable economic growth.

"There is no human endeavour without challenges. They are meant to be overcome, and when they are, the victory becomes even sweeter," he said, urging African nations to remain focused on achieving long-term development goals.

At the summit, Alake witnessed the signing of a strategic Memorandum of Understanding (MoU) between the Africans for Africa (AFA) Initiative and Steron Mining Company Limited to accelerate the development of Nigeria's lithium and rare earth mineral resources.

Under the agreement, Steron Mining Company will receive dedicated capital support and specialised technical assistance to ensure the project meets international standards for bankability, environmental sustainability and operational excellence.

The Minister was also formally inaugurated as Chairman of the African Minerals Strategy Group (AMSG), receiving the organisation's gavel, charter and certificate of election.

Presenting the instruments of office, AMSG Secretary-General, Moses Michael Engadu, described Alake's emergence as a significant milestone for both Nigeria and the continent, expressing confidence in his ability to provide the leadership needed to shape Africa's mineral future.

Engadu said the appointment placed Nigeria at the forefront of driving a continental strategy aimed at unlocking Africa's mineral wealth for the benefit of its people and future generations.

This was part of a statement issued and signed by Kania Maliki Andeyaba, Deputy Director Press and Public Relations Department of the Federal Ministry of Solid Minerals Development and made available to Naij News Alert in Abuja.