Shettima urges Africa against exporting mineral wealth without achieving full benefits

Nigeria’s Vice President, Senator Kashim Shettima, spoke at the Third Africa Minerals Strategy Group High-Level Roundtable in New York on behalf of President Bola Tinubu. He urged African nations to cease exporting mineral wealth without reaping the advantages of processing, industrialisation and manufacturing. Shettima argued that Africa cannot consider itself wealthy if communities near mineral deposits remain impoverished.

He called for enhanced coordination across the continent, cautioning against African countries pursuing investments via lower royalties, weaker local-content requirements and excessive concessions. Instead, he promoted integrated markets, regional processing hubs and cross-border mineral corridors to amplify Africa's scale and bolster its standing in global mineral supply chains.

Shettima outlined Nigeria's mining reforms, such as prioritising local value addition, bolstering geological information, formalising artisanal miners, and addressing illegal mining. He also cited burgeoning mining revenues and investments in lithium processing in Nasarawa State as evidence of the possibilities offered by domestic beneficiation.

The Vice President endorsed the AMSG’s Mutual Assured Development (MADE) Framework, asserting that governments must offer predictable policies and dependable institutions, while investors must supply responsible capital, technology transfer, local value and unwavering dedication. He also advocated moving beyond the AMSG's signing ceremony into an implementation programme with definite timelines, financing and accountability.