Nigeria and the African Development Bank (AfDB) have strengthened calls for greater local value addition and the development of domestic value chains to maximise the continent’s vast mineral wealth.
The push is aimed at moving Africa beyond the traditional practice of exporting raw minerals and towards increased local processing, manufacturing and industrial development.
Stakeholders have argued that Africa’s mineral resources present a significant opportunity to accelerate economic growth, create jobs and attract investment if more resources are processed within the continent.
For Nigeria, the development of local mineral value chains is seen as an important step towards diversifying the economy and reducing dependence on crude oil. Increased investment in exploration, processing and mineral-based industries could also create new opportunities for businesses and young people.
The AfDB has consistently emphasised the need for African countries to develop stronger mineral value chains that can enable them to benefit more from their natural resources.
Rather than exporting minerals in their raw form, stakeholders believe countries should invest in processing facilities, technology, infrastructure and skills development to retain a greater share of the value generated from their resources.
The approach could also encourage the growth of manufacturing industries linked to the mining sector, creating stronger connections between mineral production and broader economic activity.
In Nigeria, the renewed focus on local value addition comes amid efforts to develop the solid minerals sector as a major contributor to national development. The country is endowed with a wide range of mineral resources, including gold, lithium, tin, iron ore and other industrial minerals.
Stakeholders have called for stronger partnerships between governments, financial institutions and private investors to unlock investment in the sector while promoting responsible and sustainable mining practices.
They also stressed the importance of improving infrastructure, strengthening regulatory frameworks and ensuring greater transparency to attract long-term investment into Africa’s mineral industries.
The development of local value chains is expected to help African countries increase government revenues, create employment and strengthen their industrial capacity.
With global demand for critical minerals rising due to the expansion of clean energy technologies and advanced manufacturing, Africa is increasingly being viewed as strategically important to the global minerals market.
Nigeria and the AfDB’s support for local value addition therefore reflects a broader push to ensure that Africa’s mineral wealth becomes a catalyst for inclusive economic development rather than simply a source of raw material exports.
If effectively implemented, the strategy could help African countries build stronger economies, develop competitive industries and ensure that more of the wealth generated from the continent’s natural resources remains within Africa.
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