Riyadh (Saudi Arabia), Jan. 11, 2023 – Dele Alake, the Minister of Solid Minerals Development, says local value addition is key for the development of the sector in Nigeria.
The minister said this during a panel discussion at the ongoing Future Minerals Forum (FMF) in Riyadh, Saudi Arabia.
He called for international support to enhance local value addition in the mining sector a this was crucial in fostering the growth of both the mining industry and the broader African economy.
He said that the focus should now move from the long-standing practice of transporting away raw mineral resources.
“For us in Nigeria and most of Africa, the idea of a super region is quite significant in order to harness the mosaic, distinctive mineral resources that are within the confines of our super regions and consequently achieve a sustainable energy mix for the world.
“In Nigeria, we have prioritised the development of our critical minerals and rare earth metals.
“So, the idea of inclusivity in a super region entails collaborative efforts, not only in the area of investments, but technology transfer, knowledge sharing, and more importantly, for us in Africa, local value addition.”
“In Africa, we know we need a lot of infrastructural development. That is why the significance of the super region cannot be over emphasised.
“The onus falls on us all to map out strategies of creating concrete alliances and integration of our economic interests.
“For instance, it is a known fact that Africa holds a significant percentage of critical minerals, which are now in demand as the world transitions to green energy. Therefore, the continent can no longer be given the shorter end of the stick.” (GBN)
