President Bola Tinubu has condemned the ongoing extraction of Africa’s raw minerals for processing in developed countries, highlighting its detrimental impact on the continent’s economic development.
Speaking through Vice President Kashim Shettima at an event hosted by the Africa Minerals Strategy Group during the 79th United Nations General Assembly (UNGA), Tinubu emphasized the urgent need for Africa to reclaim control over its resources.
He called for a new era of commercial partnerships, diplomacy, and economic collaboration between Africa and global powers, stressing that equitable relationships are crucial for the continent’s prosperity.
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Tinubu lamented how Africa, once a key business ally to Europe, now faces exploitation, with raw minerals being extracted, refined abroad, and sold back as finished products, further deepening Africa’s underdevelopment.
Minister of Solid Minerals Development, Dele Alake, also voiced concern, urging a paradigm shift where Africa takes charge of the entire mineral value chain from extraction to processing — to ensure local economies benefit from their own resources. Both leaders pressed for economic reforms that would elevate Africa as an equal business partner on the global stage.
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