President Bola Tinubu has urged African countries to stop relying on the export of raw minerals while importing finished goods, warning that the continent risks remaining economically disadvantaged unless it embraces industrialisation, value addition and stronger regional collaboration.
The President made the call on Wednesday during the opening of the fifth African Natural Resources and Energy Investment Summit in Abuja.
Represented by the Minister of Solid Minerals Development, Dele Alake, Tinubu said Africa must reposition itself from being a source of raw materials to becoming a hub for processing, manufacturing and innovation.
The summit, themed “One Africa, One Resource Vision,” attracted participants from more than 15 African nations, including government officials, investors, mining executives, development institutions, energy experts and policymakers seeking solutions for maximising the continent’s natural resource potential.
Tinubu described the gathering as a critical opportunity for Africa to redefine its economic future and pursue collective growth rather than operating as isolated markets.
“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.
He noted that the global demand for critical minerals and energy resources required for electric vehicles, renewable energy technologies and advanced industrial systems has placed Africa at the centre of global economic transformation.
“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.
The President stated that Nigeria’s Renewed Hope Agenda reflects the broader continental aspiration of achieving economic transformation through industrial production, infrastructure development and increased local value creation.
He stressed that Africa’s long-term success depends on deeper cooperation among nations and the development of interconnected economies across the continent.
“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.
While highlighting the continent’s vast resource endowment, Tinubu cautioned that natural wealth alone does not automatically translate into 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.”
Addressing investors at the summit, the President said African countries are open to investment but would prioritise partnerships that support economic growth, technology transfer and local development.
“We welcome capital that builds, not capital that merely takes. We welcome partnerships that create jobs, transfer technology, strengthen local capacity, protect communities and respect the environment. Africa does not reject global partnerships.
Africa rejects unequal partnerships. The future will not belong to those who extract the most. The future will belong to those who create the most value,” he stated.
On the issue of energy, Tinubu maintained that Africa’s transition to cleaner energy sources must be balanced with the continent’s development needs.
“We cannot industrialise without power. We cannot create modern jobs without power. We cannot educate, heal, manufacture, store, transport or innovate at scale without power.
Africa’s energy transition must therefore be practical, balanced and just. We accept the responsibility to protect the planet, but we also insist on the right to develop.
“Millions of Africans still need reliable electricity. Our factories need energy. Farmers need storage and processing facilities. Hospitals need power. Children need light to study.
Entrepreneurs need the infrastructure to compete. A just transition must not ask Africa to choose between climate responsibility and human dignity. It must deliver both.”
He assured stakeholders that Nigeria would continue implementing policies aimed at expanding energy access, promoting industrialisation and attracting investment into modern power infrastructure.
“We will continue to pursue an energy future that expands access, supports industrialisation, utilises our gas resources responsibly, grows renewable energy and attracts investment into modern power systems. The goal is not simply to produce more energy. The goal is to produce more opportunities.”
Tinubu also challenged participants to ensure that discussions at the summit produce practical outcomes capable of driving economic growth across the continent.
“Let this summit send a clear message to the world. Africa is not waiting to be discovered. Africa is defining itself.
We know our responsibility and we know our destination. Let the agreements reached here become projects.
Let the projects become industries. Let the industries create jobs. Let the jobs create dignity. Let that dignity become the foundation of a new African century,” Tinubu said.
In his remarks, Secretary-General of the African Minerals Strategy Group, Moses Michael Engadu, called for stronger collaboration among African countries and the establishment of institutions capable of converting mineral wealth into sustainable economic gains.
Using an African proverb to illustrate his point, Engadu said the continent’s future strength depends on unity and cooperation.
“The true strength of Africa lies not only in what is beneath our soil but in the connections between our people and our nations.
The theme ‘One Africa, One Resource Vision’ demonstrates clearly that Africa is stronger together.
“No single African country possesses all the resources required for industrial transformation. No single country has all the capital necessary to unlock its full potential.
But collectively, Africa possesses everything required to become one of the defining economic powers of this century.”
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He acknowledged the growing global demand for lithium, copper, graphite and other strategic minerals but warned that resource abundance alone would not guarantee development.
“History teaches us that resources do not automatically create prosperity. Vision creates prosperity. Partnerships create prosperity. Institutions create prosperity.
“Our task is not merely to export resources but to export value. Not merely to participate in global supply chains but to help shape them.
Not merely to attract investment but to direct investment toward Africa’s long-term development priorities.”
Also speaking at the summit, Chairman of the Senate Committee on Solid Minerals Development, Senator Ekong Sampson, urged African leaders to shift focus from discussions about mineral potential to practical efforts that promote productivity, industrialisation and employment.
Similarly, Chairman of the House Committee on Solid Minerals, Jonathan Gaza, praised ongoing reforms in Nigeria’s mining industry and pledged legislative backing for policies designed to increase exploration activities, attract investors and boost government earnings from the sector.
The summit concluded with renewed calls for stronger cooperation among governments, investors, development partners and industry stakeholders to ensure Africa’s mineral and energy resources serve as drivers of industrial growth, regional integration and shared prosperity.
Over the years, the African Natural Resources and Energy Investment Summit has become one of the continent’s foremost platforms for discussions on mining, energy, infrastructure and resource development.
The annual event provides opportunities for governments, financiers and industry leaders to build partnerships, review policy reforms and explore investment opportunities across Africa’s resource value chains.
This year’s edition comes as demand for critical minerals such as lithium, cobalt, copper, graphite and rare earth elements continues to rise globally due to the expansion of electric vehicles, renewable energy technologies and battery storage systems, placing Africa at the heart of the global energy transition.