Africa Must End Raw Materials Export – Adesina

The President of the African Development Bank (AfDB), Akinwunmi Adesina, has urged African leaders to stop the policy of exporting raw materials.

Naijaonpoint reports that Adesina said the policy of exporting raw materials by African leaders is the door to the continent’s poverty.

In a brief statement on his 𝕏 handle on Thursday, the former Minister of Agriculture, under former President Goodluck Jonathan, stressed the need for a policy shift.

He advised the continent’s leaders to prioritize the export of value-added products.

“Africa must end the exports of its raw materials. The export of raw materials is the door to poverty. The export of value-added products is the highway to wealth. And Africa is tired of being poor,” he wrote.

Meanwhile, the Minister of Solid Minerals Development, Dele Alake, has said his ministry was ready to partner with European Union (EU) investors in the development of the nation’s minerals.

Alake stated this on Tuesday, during a meeting with European Union Ambassador to Nigeria and Economic Community of West African States (ECOWAS), Gautier Mignot.

“I am encouraged by the EU’s growing interest in expanding trade and investment in Nigeria’s solid minerals sector. This engagement comes at a crucial time as we work to reposition and revitalize our mining industry.

“We are ready to partner with EU member states and investors. With our long-standing relationship with the EU, this is an ideal moment to move from dialogue to action,” he said.

During the meeting, the Minister also highlighted the vast potential of Nigeria’s critical minerals, especially the country’s high-grade lithium, which is essential for solar panels, electric vehicles, and battery technologies.

“We also have commercially viable deposits of cobalt, copper, and more that position us as a key player in the global shift toward green energy. With over $700 billion in estimated mineral deposits, the investment opportunities are significant.

“I am optimistic about the future of Nigeria’s solid minerals sector and look forward to establishing meaningful, long-term partnerships with the European Union,” he added.