President Bola Tinubu yesterday called for a complete overhaul of the global financial architecture governing Africa’s mineral resources. Tinubu, represented by Vice President, Kashim Shettima, made the call at the 2nd Africa Minerals Strategy Group (AMSG) High-Level Roundtable on Critical Minerals Development in Africa, held on the margins of the 80th Session of the United Nations General Assembly (UNGA) in New York City.
He said African countries must not only finance their own mineral sectors but also assert greater influence and control over the global supply chains. According to him, such action is necessary to safeguard the sovereignty of African nations.
He urged collective efforts by development partners and allies to help unlock the continent’s mineral economy for the benefit of Africa. The President said: “We must take the bull by the horns in financing our future.
“Never again shall we wait for capital to trickle in. “With sovereign funds, blended vehicles, and innovation tools like the Africa Mineral Token, Africa shall finance Africa. “To safeguard this sovereignty, we must guard our cobalt, lithium, graphite, gold, and rare earths not as fragmented states but as one continental bloc, wielding collective power in global supply chains.”
Tinubu pledged Nigeria’s commitment to catalysing a mineral-led renaissance under the Renewed Hope Agenda, as exemplified back home, urging African leaders to end the “ignoble cycle” of importing finished goods through accelerated government-led mineral exploration.
To unlock Africa’s mineral economic future, the President said the objective would be realised through four key imperatives. He urged African countries to move up the value chain, saying: “We must end the ignoble cycle of exporting rocks and importing finished goods.” Tinubu said: “From beneficiation to green manufacturing, Africa must build industries on African soil.
“I’m proud to announce the African Minerals and Energy Resource Classification (AMREC) and the Pan-African Resource Reporting Code (PARC). “We will no longer beg for geological knowledge of our own land. Africa’s data will be mapped, standardised, and owned by Africans.
“Third, data alone is not enough. We must accelerate government-led mineral exploration and national geological mapping. “Without exploration, there is no sovereignty. Without mapping, there is no value. “Every member state must prioritise country-wide surveys, strengthen geological agencies, and pool expertise through AMSG.
For when Africa owns the map, Africa owns the future.” He said: urged African leaders to take the bull by the horns in financing Africa’s future. The President said: “With sovereign funds, blended vehicles, and innovative tools like the Africa Mineral Token, Africa shall finance Africa.”
