Tinubu Urges Africa to End Raw Material Exports, Embrace Industrialisation for Economic Growth
President Bola Tinubu has challenged African nations to break away from the decades-long cycle of exporting raw minerals while importing expensive finished products, warning that the practice continues to deprive the continent of its true economic potential. Speaking at the Fifth African Natural Resources and Energy Investment Summit in Abuja on Wednesday, the President said Africa must embrace industrialisation, local processing, and manufacturing if it hopes to achieve lasting prosperity and reduce dependence on foreign economies.
Represented by the Minister of Solid Minerals Development, Dele Alake, Tinubu told delegates from more than 15 African countries that the continent possesses the resources needed to shape the future of the global economy. With rising demand for critical minerals such as lithium, cobalt, copper, and rare earth elements, he stressed that Africa can no longer afford to remain merely a supplier of raw materials while other regions reap the benefits of value-added production and technological advancement.
In a passionate address, the President described the summit’s theme, “One Africa, One Resource Vision,” as more than just a slogan, calling it a declaration of the continent’s determination to act as a united economic force. According to him, Africa must think collectively, build regional value chains, and strengthen cross-border partnerships to transform its natural wealth into jobs, industries, and opportunities for millions of young people across the continent.
Tinubu emphasized that Africa’s future depends not only on the abundance of its resources but also on visionary leadership, sound governance, and strategic investments. He urged governments and private-sector stakeholders to focus on projects that create local jobs, transfer technology, and build industrial capacity. While welcoming foreign investment, he made it clear that Africa seeks partnerships that create lasting value rather than arrangements that simply extract wealth from the continent.
The President also highlighted the importance of energy in driving industrial growth, insisting that Africa’s transition to cleaner energy must be balanced with the need for economic development. He maintained that reliable power remains essential for manufacturing, healthcare, education, and innovation. As the summit concluded, leaders, investors, and industry experts echoed calls for stronger collaboration to ensure that Africa’s vast mineral and energy resources become catalysts for industrialisation, regional integration, and shared prosperity, positioning the continent as a major economic force in the decades ahead.
source: punch