By Abdullahi Lukman
The Minister of Solid Minerals Development, Dele Alake, has called on African nations to stop exporting raw minerals and instead prioritise local processing and industrialisation to unlock economic benefits.
Speaking at the 4th African Natural Resources and Energy Investment Summit on Wednesday in Abuja, Alake stressed that the continued export of unprocessed resources deprives the continent of job opportunities, technological growth, and sustainable development.
Highlighting Nigeria’s strides, he revealed that 867 mining licences were issued in Q1 2025 alone, generating ₦6.95 billion in revenue.
The Mining Cadastre Office received over 10,000 applications during this period, with 955 processed and 867 approved.
These included 512 exploration licences, 295 small-scale mining leases, 60 quarry leases, and five large-scale mining leases.
Alake said these achievements were part of Nigeria’s mining sector reforms under President Bola Tinubu’s Renewed Hope Agenda.
He cited increased licensing fees, stricter compliance checks, and policies mandating local processing as drivers of the sector’s revenue jump from ₦6 billion in 2023 to ₦38 billion in 2024.
Over $800 million in processing-related investments were also attracted in 2023.
In a major energy transition step, Nigeria signed a deal to establish a lithium-ion battery manufacturing plant and plans to build electric vehicle assembly facilities.
Alake emphasised the country’s intent to become a key player in the green energy space, urging other African countries to replicate its model.
He also highlighted the adoption of the African Mineral and Energy Resources Classification and Management System (AMREC) and the Pan-African Resources Reporting Code (PARC) as continental efforts to standardise reporting and attract investors.
Kenya’s Cabinet Secretary for Mining, Hassan Joho, commended the initiative, stating it was time for African nations to work together for job creation and regional development.
In his address, Permanent Secretary of the Solid Minerals Ministry, Faruk Yusuf Yabo, reiterated support for sustainable partnerships aligned with environmental, social, and governance (ESG) goals. He praised the summit for advancing clean energy investments and repositioning Africa in the global energy transition.
Also speaking at the summit, Minister of Power Adebayo Adelabu outlined Nigeria’s efforts to promote local content in electricity, decentralise power systems, and reduce carbon emissions.
He said the 2023 Electricity Act allowed 11 states to assume regulatory control, and reforms have boosted revenue by ₦700 billion, growing total market revenue from ₦1 trillion in 2023 to ₦1.7 trillion in 2024.
Adelabu listed initiatives such as the Independent System Operator, Energising Education Programme (adding 100MW to federal institutions), and the DARES project targeting 17.5 million Nigerians with decentralised electrification.
He also mentioned $5.91 million in grants for mini-grid projects and partnerships to strengthen solar energy manufacturing and technical training.
He reaffirmed Nigeria’s commitment to achieving universal energy access, net-zero emissions by 2060, and cross-border energy collaboration through the West African Power Pool and ECOWAS electricity market.
