PICTORIAL: Tinubu To Africa: Finance Your Minerals, Control Supply Chains

President Bola Tinubu has called for a implicit overhaul of the planetary fiscal architecture governing Africa’s mineral resources, saying it was clip for African nations to not lone concern their ain mineral sectors but besides asseverate their power and power implicit African products’ planetary proviso chains.

This, the President stated, had go indispensable if African nations’ sovereignty is to beryllium protected, conscionable arsenic helium recommended corporate enactment by improvement allies and partners to bring Africa’s mineral system to world for the payment of the continent.

President Tinubu, represented by Vice President Kashim Shettima, called for these decisive actions astatine the Second Africa Minerals Strategy Group (AMSG) High-Level Roundtable connected Critical Minerals Development successful Africa, held connected the margins of the 80th Session of the United Nations General Assembly, New York City.

“We indispensable instrumentality the bull by the horns successful financing our future. Never again shall we hold for superior to trickle in. With sovereign funds, blended vehicles, and innovation tools similar the Africa Mineral Token, Africa shall concern Africa. To safeguard this sovereignty, we indispensable defender our cobalt, lithium, graphite, gold, and uncommon earths not arsenic fragmented states but arsenic 1 continental bloc, wielding corporate powerfulness successful planetary proviso chains,” the President submitted successful a connection by Presidential spokesman, Stanley Nkwocha.

Pledging Nigeria’s committedness towards catalysing a mineral-led renaissance nether the Renewed Hope Agenda, arsenic exemplified backmost home, Tinubu urged African leaders to extremity the “ignoble cycle” of importing finished goods done accelerated government-led mineral exploration.

As portion of measures to unlock Africa’s mineral economical future, the President said the nonsubjective volition materialise based connected 4 imperatives.

First, Tinubu urged African nations to ascent the worth chain, adding, “We indispensable extremity the ignoble rhythm of exporting rocks and importing finished goods. From beneficiation to greenish manufacturing, Africa indispensable physique industries connected African soil.”

The President continued, “Second, I americium arrogant to denote that with the African Minerals and Energy Resource Classification (AMREC) and the Pan-African Resource Reporting Code (PARC), we volition nary longer beg for geological cognition of our ain land. Africa’s information volition beryllium mapped, standardised, and owned by Africans.

“Third, information unsocial is not enough. We indispensable accelerate government-led mineral exploration and nationalist geological mapping.

“Without exploration, determination is nary sovereignty. Without mapping, determination is nary value. Every subordinate authorities indispensable prioritise country-wide surveys, fortify geological agencies, and excavation expertise done AMSG. For erstwhile Africa owns the map, Africa owns the future.”

Fourthly, the President urged African leaders to concern Africa’s aboriginal “with sovereign funds, blended vehicles, and innovative tools similar the Africa Mineral Token, adding, “Africa shall concern Africa”.

The President demanded a corporate objection of enactment portion calling upon sovereign wealthiness funds, backstage partners, and improvement allies to articulation Africa successful rewriting the communicative of Africa’s mineral economy.

“Nigeria, Uganda, Zimbabwe, Burkina Faso, Mali, Botswana, Gabon, and Ghana are already starring this caller property of adjacent exchange, enforcing bans connected the export of earthy minerals to beforehand home beneficiation. Zimbabwe’s prohibition connected earthy lithium successful 2022, Gabon’s determination to extremity manganese exports by 2029, and Kenya’s program to restrict earthy golden exports are historical acts of courage. Nigeria is accelerating akin reforms, for we cognize this is the roadworthy to jobs, to industries, and to prosperity,” the President said.

He commended Nigeria’s Minister of Solid Minerals Development, Dr Dele Alake, who chairs the event, and the Secretary-General, H.E. Moses Michael Engadu of Uganda for guiding Africa towards a way of productivity and pride.

The President concluded, “As Chair of this Roundtable, I pledge Nigeria’s unflinching committedness to ensuring that AMSG fulfils its committedness of catalysing a mineral-led renaissance. Let america emergence from this dialog with a communiqué of clarity, a model for action, and a tone of unity.”

Earlier, Dr. Alake portion welcoming stakeholders and partners to the event, called for cohesion amongst African nations, saying with determined absorption and a reinvigorated consciousness of concern and transparency successful the minerals sector, Africa volition harness successful each ramifications the full benefits of a sustained, deepened and good harmonised mineral sector, adding that, “these resources are indispensable for planetary sustainable improvement and stay catalyst for Africa’s accelerated industrialisat...