UNGA 80: Tinubu pushes for African control of mineral wealth

President Bola Tinubu has called on African nations to take charge of their mineral resources and assert greater influence in the global supply chain to safeguard the continent’s sovereignty.

Speaking through Vice President Kashim Shettima at the Second Africa Minerals Strategy Group (AMSG) High-Level Roundtable on the sidelines of the 80th United Nations General Assembly in New York, Tinubu said Africa must stop waiting for foreign capital to dictate its future.

“We must take the bull by the horns in financing our future. Never again shall we wait for capital to trickle in. With sovereign funds, blended vehicles, and innovative tools like the Africa Mineral Token, Africa shall finance Africa,” Tinubu said.

The President stressed the need for African countries to end the “ignoble cycle” of exporting raw minerals only to import finished products. Instead, he urged them to build industries at home, map their resources, and accelerate government-led exploration.

Tinubu also highlighted recent reforms by Nigeria and other African nations such as Zimbabwe, Gabon, and Kenya, which have moved to restrict raw mineral exports in favour of domestic beneficiation.

He pledged Nigeria’s commitment to driving a “mineral-led renaissance” under the Renewed Hope Agenda, praising Solid Minerals Minister, Dele Alake, for his leadership in the sector.

UN Assistant Secretary-General, Ahunna Eziakonwa, warned African leaders against allowing continued exploitation of the continent’s resources, stressing the need for partnerships that guarantee technology transfer and job creation.

The European Union’s Commissioner for International Partnerships, Jozef Stkela, said Europe has signed 14 strategic partnerships on raw materials, including four with African nations, under its 2024 Critical Raw Materials Act.

Tinubu concluded with a call for unity: “Let us rise from this dialogue with a communiqué of clarity, a framework for action, and a spirit of unity.”