Leverage mineral wealth for industrial growth, Alake urges African leaders

The Minister of Solid Minerals Development and Chairman of the African Minerals Strategy Group, Dele Alake, has called on African leaders to reposition the continent’s mineral wealth as the bedrock of a new wave of transformative industrialisation.

Delivering a keynote address at the ongoing African Mining Week in Cape Town, South Africa, Alake said Africa must end the paradox of supplying raw minerals to fuel industrial growth abroad while remaining under-industrialised at home.

“Africa’s minerals have powered industrialisation elsewhere while our own economies remain under-industrialised. This paradox must end. Our vision must be clear: to move from extractive dependence to transformative industrialisation,” he said in a statement signed and released by his media aide, Segun Tomori on Sunday in Abuja.

Represented by the Permanent Secretary of the ministry, Farouk Yabo, the minister outlined Nigeria’s reform agenda in the mining sector, including local beneficiation from gold refining to lithium processing, revocation of dormant licenses, strengthening governance and transparency, and the formulation of a national critical minerals strategy.

The Minister of Solid Minerals Development and Chairman of the African Minerals Strategy Group, Dele Alake, has called on African leaders to reposition the continent’s mineral wealth as the bedrock of a new wave of transformative industrialisation.

Delivering a keynote address at the ongoing African Mining Week in Cape Town, South Africa, Alake said Africa must end the paradox of supplying raw minerals to fuel industrial growth abroad while remaining under-industrialised at home.

“Africa’s minerals have powered industrialisation elsewhere while our own economies remain under-industrialised. This paradox must end. Our vision must be clear: to move from extractive dependence to transformative industrialisation,” he said in a statement signed and released by his media aide, Segun Tomori on Sunday in Abuja.

Represented by the Permanent Secretary of the ministry, Farouk Yabo, the minister outlined Nigeria’s reform agenda in the mining sector, including local beneficiation from gold refining to lithium processing, revocation of dormant licenses, strengthening governance and transparency, and the formulation of a national critical minerals strategy.

Alake emphasised that Africa holds some of the richest deposits in the world, minerals critical to clean energy, digital technologies, advanced manufacturing, and global security.

He urged governments to stop the brain drain of African youths, stressing that opportunities lie “beneath their feet.”

“Our youth should no longer seek jobs abroad while opportunities lie buried beneath their feet. The time to industrialise is now. Let us set the stage for an Africa that is not just a participant in the global minerals economy, but a driver of its future,” he declared.

On Nigeria’s domestic efforts, Alake disclosed that government reforms include digitising mining processes for data accessibility and mineral traceability, strengthening institutional frameworks, and amending the 2007 Minerals and Mining Act to provide a stronger legal foundation for investments.

He affirmed that Nigeria is committed to ensuring full traceability in its minerals value chain, stressing that legitimate resources will only come from licensed operators or formalised artisanal and small-scale miners.

Speaking further at the ministerial roundtable of the African Minerals Strategy Group, Alake reiterated Nigeria’s ambition of building a $1tn economy by 2030, with mining as a key driver.

Echoing the concerns of the Democratic Republic of Congo, he urged African states to prioritise comprehensive mapping of their mineral deposits, insisting that such exercises are necessary to prevent illegal exploitation and to strengthen regulatory oversight.

“Africa must ensure that only licensed operators are mining. We must also build adequate capacity for effective supervision,” he said.

Nigeria’s delegation also participated in the country spotlight session, where the Permanent Secretary showcased investment opportunities in the solid minerals sector, highlighting incentives for global investors and underscoring the nation’s mineral endowments.

The African Mining Week drew participation from ministers of mining from the Democratic Republic of Congo, Zimbabwe, Sierra Leone, as well as representatives from Nigeria, Gambia, and Ghana. Industry leaders and major private sector players across the continent also attended the conference.

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