The summit brought together experts and stakeholders from across Africa to discuss the prospects of local production for the continent’s economic development.
During a pre-summit tour to a lithium plant in Abuja, participants emphasized the importance of adding value to raw materials through local processing.
In an interview with journalists during the tour, Engr. Adamu Hussain, President of Asba Group of Companies, highlighted the company’s strategy to commence local battery production, with plans to produce approximately 2,000 tons per day.
Experts praised the Nigerian government’s policies, particularly the Renewed Hope Agenda, which encourages local processing of raw materials. They also stressed the need for partnerships to enhance production capabilities and create job opportunities.
Moses Micheal Engadu, Secretary General of the Africa Minerals Strategy Group, lamented the historical trend of exporting raw minerals while importing poverty.
He cited success stories of countries like Kenya and Uganda, which have banned the export of raw materials to promote local processing.
The Minister for Mining, Blue Economy, Shipping, and Maritime Affairs for Kenya, Mr. Hassan Ali Joho, emphasized the importance of African nations collaborating to build economic resilience through local processing of minerals.
Mr. Joho demonstrated commitment to fostering inter-African relationships that focus on extracting value from the continent’s resources for mutual benefit.
Still speaking with Journalists, the Deputy Director of Investment Promotion at Nigeria’s Ministry of Solid Minerals Development, Olajide Olusola, highlighted the administration’s priority to attract investments to Nigeria’s mining sector. He noted the importance of site visits for local investors to enhance confidence in Nigeria’s investment landscape.
The Summit represents a shift towards a more sustainable and economically beneficial mineral extraction strategy within Nigeria and across Africa. Participants underlined a collective commitment to enhancing local processing capabilities and fostering intercontinental cooperation to transform mineral wealth into tangible developmental outcomes.
The tour included representatives from the Ministry of Industry and Minerals, Saudi Arabia, who expressed interest in bilateral relationships between Nigeria and Saudi Arabia in mining and minerals.
This development highlights the potential for international cooperation and investment in Africa’s natural resources. By focusing on local production, value addition, and job creation, Africa can unlock its economic potential and reduce dependence on raw material exports.
Spark News Daily reports that this year’s AFNIS marks a significant step towards achieving this goal.
