The Minister of Solid Minerals Development, Dr. Dele Alake, has called on African nations to assert sovereign control over their natural resources by ending the export of raw minerals and investing in domestic value addition through local processing and industrialisation.
Speaking at the opening ceremony of the 4th African Natural Resources and Energy Investment Summit (AFNIS 2025) held Wednesday at the Presidential Villa, Abuja, Alake stressed that the continued export of unprocessed minerals robs the continent of economic transformation opportunities, including job creation, technological growth, and sustainable development.
“The time has come for Africa to retain more value from its natural wealth. Exporting raw minerals only enriches others while we lose out on industrial capacity and innovation,” Alake said.
Highlighting Nigeria’s strides, Alake revealed that the Federal Government issued 867 mining licenses in the first quarter of 2025, generating N6.95 billion in licensing revenue — a testament to the aggressive reforms reshaping Nigeria’s mining sector.
The Mining Cadastre Office processed 955 out of over 10,000 applications, approving licenses that included:
- 512 exploration licenses
- 295 small-scale mining leases
- 60 quarry leases
- 5 large-scale mining leases
Alake said these reforms signal Nigeria’s determination to become a hub for mineral processing and value-added exports, positioning the country and continent for greater economic resilience and global competitiveness.
Stakeholders at the summit echoed the minister’s call, urging African governments to enforce beneficiation policies that will keep more wealth and innovation on the continent.
