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The position was presented at the Ministerial Forum on Critical Minerals, Value Chain and Beneficiation: Pathways for African Transformation, held in Abidjan, Côte d'Ivoire, where ministers and development partners discussed strategies for unlocking greater value from Africa's vast mineral wealth.
A statement signed by Lara Owoeye-Wise, Special Assistant on Media to the Minister of Solid Minerals Development, Nigeria's Minister of Solid Minerals Development, Dr. Dele Alake on Sunday, urged African nations to abandon isolated approaches to mineral development and instead pursue regional partnerships that would strengthen the continent's bargaining power in the global critical minerals market.
Alake said Africa must move beyond exporting raw minerals and focus on processing and beneficiation to maximise economic returns.
He said, "While the mantra of value addition has ushered in an era of economic independence for mineral-producing nations, we need concrete actionable strategies to take charge and be in full control of our natural assets to ensure total economic freedom."
The minister, who chairs the Africa Mineral Strategy Group (AMSG), also advocated a unified African system for reporting mineral resources, arguing that the continent should no longer depend on foreign standards for evaluating its mineral deposits.
He urged African countries to adopt the Pan African Resource Reporting Code (PARC), describing it as a transparent framework tailored to Africa's geological realities and capable of promoting investor confidence and responsible resource management.
Alake further proposed the establishment of a regional mineral processing corridor linking Lagos to Dakar, saying the initiative would enable participating countries to share infrastructure, reduce investment costs and build competitive mineral value chains across West Africa.
He also expressed concern over the low level of intra-African trade, noting that trade among African countries accounts for only about 16 per cent compared to much higher levels in Europe and Asia.
Speaking at the opening of the forum, AfDB President Dr. Sidi Ould Tah said Africa's abundant critical mineral deposits have not translated into corresponding economic prosperity because of inadequate financing and limited value addition.
He noted that although the continent possesses significant mineral resources, it continues to attract relatively low levels of foreign direct investment, limiting its contribution to GDP growth.
The meeting ended with the adoption of the Abidjan Declaration, which commits African governments and development partners to accelerate investment in mineral processing, regional infrastructure and sustainable value chains.
Under the declaration, the African Development Bank pledged to deploy financing, technical expertise and capital mobilisation tools to support strategic mining projects, reduce investment risks and facilitate the development of critical infrastructure across Africa.
The forum brought together more than 20 African ministers responsible for mining, energy, industry and natural resources, alongside representatives of Afreximbank, the U.S. Export-Import Bank and international mining companies from Germany, Canada and the United States.
Participants agreed that stronger regional cooperation, improved financing and greater African ownership of mineral resources are essential to ensuring that the continent derives lasting economic benefits from its critical minerals.