President Bola Tinubu on Tuesday declared that the world strategically needs the African continent for its wealth and invaluable resources that are essential for economic growth and development.
The President who was represented by Vice Kashim Shettina at the Africa Minerals Strategy Group summit in New York, United States of America on the sidelines of the United Nations General Assembly (UNGA), said that Africa possesses 92 percent of global reserves of platinum, 56 percent of Cobalt, 54 percent Manganese, and 36 percent of Chromium, all minerals used in the manufacture of batteries.
“In short, the world needs Africa today more than ever,” Tinubu stressed.
The President therefore called for a new era of commercial partnerships, diplomatic relations, and economic collaboration between Africa and the rest of the world.
President Tinubu highlighted the historical precedent of cordial relations between African kingdoms and European traders before colonization, noting that “before Africa was plundered and overpowered with the technological innovation of the gun, our ancestors and their counterparts from Europe were friends, business allies and mutual sovereigns.”
He however lamented that this harmony was upset by the devastating Trans-Atlantic slave trade. He stated, “Until the visitors became greedy and upset the cordial harmony by unleashing the trans-Atlantic slave trade, the most devastating depopulation that mankind has ever witnessed.”
The President also emphasized that the world has now realized the futility of hatred and exploitation, citing the Universal Declaration of Human Rights and the Sustainable Development Goals.
President Tinubu commended the United Nations and Non-Governmental Organisation (NGOs) for their efforts to make the world a better place.
The Nigerian leader highlighted the critical role of technology, especially battery advancements, in driving progress and the global fight against climate change. He noted that “the global need for new battery technology has triggered a new scramble for Africa’s critical minerals.”
President Tinubu called for breaking free from the age-old role of raw material supplier, stating, “A situation in which the raw minerals are extracted from our countries, exported, refined and sold to us as finished products merely consolidates the foundations of our misery and pushes us further down the depths of underdevelopment.”
He emphasised that Africa has skilled human capital and is working to improve the ease of doing business through policy reforms and infrastructure development.
Tinubu specifically mentioned Nigeria’s adoption of the local value-addition principle and efforts to attract battery manufacturing companies.
President Tinubu also urged fellow leaders to join the crusade for a new deal where all are equal partners and share benefits equitably, “This is our chance,” he added.
In his remarks, the Minister of Solid Minerals Development Dele Alake who is chairman of AMSG said, “Africa is endowed with unparalleled wealth – vast reserves of minerals, expansive forests and remarkable renewable energy potential.”
According to Alake, the pattern of mineral production and development in Africa however continues to create a huge imbalance between the region and the developed world.
He said all African-endowed resources are not just the lifeblood of the different economies but are the foundation upon which the continent can build a sustainable and inclusive future for all citizens.
The theme of the summit is Africa’s natural resources as catalysts in shaping not just the continent’s future but the future of our world.
Alake told the gathering that “Without Africa and Africa’s natural resources, the world has no future.”
The Minister stressed that it was for this reason that the Africa Minerals Strategy Group is championing local value addition as a catalyst and accelerator for the continent to maximumly benefit from its vast natural resources.
“No natural resources should leave the borders of Africa as raw materials,” Alake added.
In his welcome address, the Secretary General of the AMSG Moses Engadu told the gathering that Africa must speak with one voice and promote one common agenda in taking advantage of the vast opportunities that abound in value addition to unlock the great potential in its mineral resources.
