Africa Must End Raw Materials Export – Adesina

Africa Must End Raw Materials Export – Adesina

Akinwunmi Adesina, President of the African Development Bank (AfDB), has called on African leaders to halt the export of raw materials. In a report by Naija News, Adesina emphasized that this practice is a significant contributor to the continent’s poverty.

In a succinct statement on his X account, the former Minister of Agriculture under President Goodluck Jonathan advocated for a shift in policy, urging leaders to focus on exporting value-added products instead….READ MORE….

“Africa must end the export of its raw materials. The practice of selling raw materials is a doorway to poverty, while exporting value-added products paves the way to prosperity. Africa is weary of being impoverished,” he expressed.

In related news, the Minister of Solid Minerals Development, Dele Alake, announced his ministry’s readiness to collaborate with European Union (EU) investors to enhance the nation’s mineral sector.

During a meeting with Gautier Mignot, the EU Ambassador to Nigeria and the Economic Community of West African States (ECOWAS), Alake expressed enthusiasm for the EU’s growing interest in trade and investment within Nigeria’s solid minerals sector.

“I am encouraged by the EU’s increased engagement, which comes at a pivotal time for revitalizing our mining industry. We are eager to forge partnerships with EU member states and investors. This is an opportune moment to transition from dialogue to actionable steps,” he stated.

The Minister further underscored the vast potential of Nigeria’s critical minerals, particularly high-grade lithium, which is essential for solar energy, electric vehicles, and battery production.

“We possess commercially viable deposits of cobalt, copper, and more, positioning us as a vital player in the global transition toward green energy. With an estimated $700 billion in mineral deposits, the investment prospects are considerable. I remain optimistic about the future of Nigeria’s solid minerals sector and look forward to establishing meaningful, long-lasting partnerships with the EU,” he concluded.