President Bola Tinubu on Wednesday called on African nations to abandon the long-standing practice of exporting raw minerals and importing finished products, warning that the continent would remain trapped in poverty unless it embraces industrialisation, value addition and regional cooperation.
Tinubu said Africa possesses the resources needed to power the global energy transition but must move beyond being a supplier of raw materials to becoming a centre for manufacturing, processing and innovation.
The President, who was represented by the Minister of Solid Minerals Development, Dele Alake, at the opening ceremony of the fifth African Natural Resources and Energy Investment Summit held in Abuja, declared that the continent had reached a defining moment in its development journey.
The summit, which attracted delegates from more than 15 African countries and was themed, “One Africa, One Resource Vision,” brought together ministers, investors, development institutions, mining executives, energy experts and policymakers to discuss the future of Africa’s vast natural resource wealth.
Addressing participants, Tinubu said Africa must approach its future as a united economic bloc rather than a collection of fragmented markets competing individually for global attention.
“For generations, our continent has been described by what lies beneath our soil, gold, gas, oil, lithium, cobalt, iron ore, copper and rare earth elements. We have been called resource-rich, strategic and indispensable.
“But the question before us today is whether Africa will finally turn that wealth into power, power for our homes, power for our industries, power for our young people, power for our economies and power for our rightful place in the world.
“That is why this summit matters. The theme, ‘One Africa, One Resource Vision,’ is not merely a slogan. It is a declaration of intent. It says Africa will no longer approach its destiny as fragmented markets, isolated producers or separate voices negotiating from positions of weakness.
“It says Africa must think together, plan together, build together and rise together,” the President stated.
According to him, the changing global economy has placed Africa at the centre of the race for critical minerals and energy resources required for electric vehicles, renewable energy technologies and modern industrial systems.
“The world is changing rapidly. Energy transition, critical minerals, climate responsibility, new technologies and fierce competition for supply chains are reshaping the global economy.
“In this new world, Africa’s resources are central. There can be no global energy transition without Africa. There can be no secure supply of critical minerals without Africa. There can be no true industrial future without Africa. But there can also be no just global order if Africa remains merely a supplier of raw materials while others capture the value.
“That era must end. Africa must no longer export the future in raw form and import poverty in finished form. I repeat, Africa must no longer export the future in raw form and import poverty in finished form. We must refine. We must process. We must manufacture. We must power our factories. We must train our engineers. We must build our own value chains and ensure that the wealth taken from African soil creates prosperity on African soil,” Tinubu said.
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The President noted that Nigeria’s Renewed Hope Agenda aligns with the continental vision of economic transformation through production, industrialisation and infrastructure development.
He stressed that Africa’s prosperity would depend largely on collaboration among nations rather than isolated national efforts.
“Our prosperity is tied to Africa’s prosperity. Markets are connected. Our borders are linked by trade, energy, transport, culture and human ambition. A mine in one African country should feed a refinery in another. A gas field in one region should power factories across borders. A solar corridor within a single nation should support a continental grid.
“For the young innovator in Lagos, Nairobi, Accra, Kigali, Kampala or Cairo, Africa should not appear as a collection of limitations but as one vast field of opportunity. This is the Africa we must build,” he added.
Tinubu, however, cautioned that natural resources alone do not guarantee economic prosperity.
“History has taught us that resources without vision can create dependence. Resources without governance can deepen inequality. Resources without value addition can leave nations poor while enriching others.
“Therefore, our mission must be clear. Africa’s resources must become instruments of sovereignty, not symbols of dependency. This requires leadership. It requires policy courage. It requires patient capital, infrastructure, technology, peace, security and a new partnership between governments and the private sector.”
Speaking directly to investors, the President said Africa was ready for business but would prioritise investments that create long-term value.
