By Eshiorameh Sebastian, Abuja
President Bola Ahmed Tinubu has declared that the time has come for African nations to take control of financing their mineral resources and wield real power in global supply chains.
He made this call for a fundamental shift in how the continent manages its natural wealth during a major address at the United Nations General Assembly (UNGA) in New York.
Represented by Vice President Kashim Shettima, President Tinubu spoke at the Second Africa Minerals Strategy Group (AMSG) High-Level Roundtable. He argued that a complete overhaul of the global financial architecture is necessary to protect the sovereignty of African nations and ensure they benefit fully from their own resources.
The President pledged Nigeria’s commitment to leading a “mineral-led renaissance” and urged collective action from across the continent. “We must take the bull by the horns in financing our future,” President Tinubu stated. “Never again shall we wait for capital to trickle in. With sovereign funds, blended vehicles, and innovation tools like the Africa Mineral Token, Africa shall finance Africa.”
He emphasised that this move towards financial independence must be matched by a united front on the world stage. “To safeguard this sovereignty, we must guard our cobalt, lithium, graphite, gold, and rare earths not as fragmented states but as one continental bloc, wielding collective power in global supply chains,” the President submitted.
To translate this vision into reality, President Tinubu outlined four key imperatives for African nations. First, he insisted that countries must move up the value chain by processing minerals domestically rather than exporting them in their raw form. “We must end the ignoble cycle of exporting rocks and importing finished goods. From beneficiation to green manufacturing, Africa must build industries on African soil,” he said.
Second, the President announced a push for Africa to own and standardise the geological data of its land. “I am proud to announce that with the African Minerals and Energy Resource Classification (AMREC) and the Pan-African Resource Reporting Code (PARC), we will no longer beg for geological knowledge of our own land. Africa’s data will be mapped, standardised, and owned by Africans,” he declared.
Third, he called for accelerated, government-led exploration and mapping. “Without exploration, there is no sovereignty. Without mapping, there is no value. Every member state must prioritise country-wide surveys, strengthen geological agencies, and pool expertise through AMSG. For when Africa owns the map, Africa owns the future,” President Tinubu explained.
The fourth point reinforced his central message on self-financing, ensuring that Africa controls the capital needed to develop its mineral sector.
President Tinubu pointed to concrete actions already being taken by several African nations as evidence of this new direction. He highlighted that “Nigeria, Uganda, Zimbabwe, Burkina Faso, Mali, Botswana, Gabon, and Ghana are already leading this new age of equal exchange.” He specifically praised Zimbabwe’s ban on raw lithium exports, Gabon’s decision to end manganese exports by 2029, and Kenya’s plan to restrict raw gold exports as “historic acts of courage.” He confirmed that “Nigeria is accelerating similar reforms, for we know this is the road to jobs, to industries, and to prosperity.”
The President commended Nigeria’s Minister of Solid Minerals Development, Dr Dele Alake, who chaired the event, for guiding Africa “towards a path of productivity and pride.” He concluded by pledging “Nigeria’s unflinching commitment” to ensuring the strategy group fulfils its promise.
The message from the roundtable was echoed by other speakers. Ahunna Eziakonwa, a senior UN official, urged African leaders to be cautious and ensure partnerships deliver technology transfer and jobs for their people. Meanwhile, a European Union commissioner noted the EU’s own efforts to secure mineral supplies and mentioned strategic partnerships with four African countries.
In a related development, Vice President Shettima held separate meetings with international investors, assuring them of Nigeria’s reformed and business-friendly environment under President Tinubu’s administration. He also met with the Chancellor of Austria, with both sides agreeing to explore new ways to deepen ties between their countries.
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