The Minister of Solid Minerals Development, Dele Alake, has called for an end to Africa’s decades-long cycle of exporting raw minerals and importing finished products at higher costs.
Speaking at the African Development Bank Ministerial Forum in Abidjan, Alake told fellow ministers that the continent must process more of its mineral resources locally to create jobs, strengthen industries and retain more value within Africa.
He said the practice of shipping out unprocessed minerals only to buy back finished products must stop if African economies are to grow sustainably.
The Minister also called for Africa to take ownership of the data and reporting standards used to assess the continent’s mineral wealth through the Pan African Resource Reporting Code, PARC. According to him, Africa must determine the true value of its resources on its own terms.
READ ALSO: Obi’s Channels TV Interview Was a PR Disaster — Onanuga
Alake described the adoption of the Abidjan Declaration as an important step forward. He noted that the declaration reflects a shared commitment to stronger regional cooperation, better financing and practical investments, including cross-border processing hubs. Such hubs, he said, will help process critical minerals locally, expand intra-African trade and drive industrial growth.
As Chair of the Africa Mineral Strategy Group, Alake reaffirmed his commitment to working with partners across the continent to ensure that Africa’s mineral wealth creates jobs, grows economies and delivers lasting prosperity for the people.
