In order to maximize the potential of African mineral resources, Nigeria’s Minister of Solid Minerals Development, Oladele Henry Alake, has challenged African countries to take control of their natural resources.

He also enjoined nations of the continent to embark on a conscious value-added policy to their mineral resources before exporting them.

Alake spoke on Wednesday at the opening session of the 4th African Natural Resources and Energy Investment Summit (AFNIS) 2025 at the Presidential Villa in Abuja.

The Minister noted that Africa’s mineral wealth holds immense potential for meeting the continental sustainable development goals.

According to him, “We seek to build a future where Africa’s natural wealth is no longer a statistic in someone else’s report. We aspire to a continent where its natural wealth serves as a driving force for industrial growth, equity, and sustainable development.”

Alake attributed the country’s progress in the sector to the implementation of reforms that formalise mining and boost domestic value addition. Adding that President Bola Ahmed Tinubu-led administration has introduced policies to require local processing of minerals before export and has increased enforcement.

“We have implemented sweeping reforms to formalise mining and boost domestic value addition. New policies now require every mining license to include a plan for local processing, and we have increased enforcement.”

The minister noted that these changes have spurred a surge of investment and revenue in the country’s mining sector.

Alake noted that the sector secured over $800 million in investments for processing projects last year, while government revenues increased significantly.

“Last year, Nigeria’s mining sector secured over $800 million in investments for processing projects, while government revenues increased significantly,” Alake said. “Sector revenues rose from ₦6 billion in 2023 to ₦38 billion in 2024.”

Highlighting some of the efforts at promoting local manufacturing of electric vehicles and batteries, the Minister said the federal government has signed a deal to build a lithium-ion battery manufacturing and processing factory.

He also disclosed that plans are at the advanced stage to establish Electric Vehicle (EV) assembly plants in the country.

“We are fostering the battery and EV industries in Nigeria. We have signed a deal to build a lithium-ion battery manufacturing and processing factory, and plans are underway to establish electric vehicle assembly plants.”

Stressing that Africa’s mineral wealth should be used to drive industrial growth, equity, and sustainable development, the Minister urged all African countries to replicate Nigeria’s shift towards value addition and industrialisation.

“Let us build a continent where Africa’s natural wealth serves as a driving force for industrial growth, equity, and sustainable development.

“Let this summit be the place where bold commitments are made, and where value addition becomes a shared continental goal,” he said.

In his remarks, the Kenyan Cabinet Secretary, Ministry of Mining, Blue Economy, and Maritime Affairs. Hassan Ali Joho commended the continent for identifying its problems and stressed that “it’s time for African countries to work together in creating jobs and wealth that can transform the region and the people for global development.”

In his welcome address, the Permanent Secretary of the Solid Minerals Development, Faruk Yusuf Yabo, reiterated the Ministry’s commitment to driving the implementation of the “Renewed Hope Agenda” through partnerships that prioritize environmental, social, and governance (ESG) principles.

He also commended the summit as a platform for African countries to forge a united front in attracting green investments, developing clean energy infrastructure, and repositioning the continent as a key player in the global energy transition.