Tinubu Urges Africa to End Raw Mineral Exports, Expand Value Addition

President Bola Ahmed Tinubu has called on African countries to deepen cooperation in mineral development and prioritize local value addition, warning that the continent must not remain a source of raw materials for the rest of the world.

The President made the appeal while receiving a delegation from the Africa Mineral Strategy Group at the State House in Abuja.

Speaking on behalf of the group, Dele Alake said the organization had implemented Tinubu's earlier directive encouraging African nations to promote local processing of mineral resources. According to him, the push for value addition is now gaining momentum across the continent, with some member countries already moving to ban the export of raw minerals.

“Local value addition is now reverberating across Africa, and several countries have taken decisive steps to stop the export of raw minerals,” Alake said.

Responding, President Tinubu stressed that Africa must leverage its shared geography, research capacity, and human resources to build a stronger knowledge-based economy that improves living standards and creates prosperity.

“We should ensure value addition and prevent Africa from being a mining pit for the rest of the world,” the President said.

Mastercard Backs Nigeria's Reform Agenda

In a separate engagement, Tinubu also received a delegation from Mastercard led by its global Chief Executive Officer.

The company commended the administration's economic reforms, citing improved macroeconomic stability, stronger alignment between fiscal and monetary policies, and the rapid growth of Nigeria's fintech ecosystem.

“Nigeria remains one of the most vibrant fintech ecosystems in the world, with significant momentum for growth,” the delegation stated.

President Tinubu welcomed the proposed partnership and highlighted Nigeria's youthful, tech-savvy population as a major advantage for global investment and digital innovation.

“We are open for business and open for partnerships,” he said.

He added that the ongoing formalization of Nigeria's largely informal small-business sector would create new opportunities for digital transformation, investment, job creation, and economic growth.