Alake Rallies Africa To Maximise Mineral Wealth

Nigeria’s Minister of Solid Minerals Development, Oladele Alake, has called for a united African approach to harness the continent’s vast mineral resources and secure greater value from the global mineral economy.

According to a statement by the minister s special assistant on media, Lara Owo-eye Wise, Alake made this call while speaking at the Kenya Mining Investment Conference and Exhibition 2026, Alake.

He said Africa is at the centre of a new industrial era driven by critical minerals, clean energy technologies, digital transformation and advanced manufacturing. However, he noted that despite its abundant deposits of lithium, cobalt, manganese, graphite, gold, copper, nickel and rare earth elements, the continent continues to capture only a small share of the wealth generated from these resources.

“For decades, Africa has remained largely an exporter of raw materials and an importer of finished products. This model has constrained industrial growth, weakened economic resilience and limited job creation across our nations,” he said.

Alake, who also chairs the Africa Minerals Strategy Group (AMSG), stressed that no single African country can fully maximise the opportunities in the rapidly evolving global minerals market.

“The time has come for Africa to redefine its place within the global mineral economy, and that transformation must begin with regional cooperation,” he said.

He urged African nations to harmonise mining policies, develop cross-border infrastructure, promote intra-African trade and strengthen regional mineral value chains under the African Continental Free Trade Area (AfCFTA).

“A fragmented Africa weakens our bargaining power. A united Africa strengthens our strategic relevance,” he added.

Alake also highlighted the expansion of the Africa Minerals Strategy Group, established in January 2023 by 16 founding countries and now comprising 31 member states. He described the body as a platform for building a unified African voice on mineral governance, value retention and strategic positioning in global supply chains.

According to him, the group is promoting cooperation among member countries to negotiate fairer terms with global partners, harmonise regulations, develop shared infrastructure such as mineral corridors and processing hubs, and improve geological data systems to attract investment.

He emphasised the urgency of value addition within Africa’s mining sector, noting that the future lies in processing, refining and manufacturing rather than exporting raw materials.

“Value addition is not merely an economic aspiration; it is a development imperative. It creates jobs for our youth, stimulates industrialisation, expands government revenues and positions Africa competitively in the industries of the future,” Alake said.

The minister added that the ongoing restructuring of global supply chains presents Africa with a rare opportunity, but cautioned that success would depend on strong governance, policy consistency, transparency, environmental responsibility and investor-friendly policies.

He concluded that discussions around mineral resources must go beyond extraction, focusing instead on Africa’s broader industrial future, economic sovereignty and sustainable development.
“Through visionary leadership, strategic partnerships and continental cooperation, Africa can transition from being merely resource-rich to becoming truly value-rich,” he said.