The Federal Government and the African Development Bank have called for stronger African control over the continent’s vast mineral resources, saying Africa must stop allowing its natural wealth to leave its shores in raw form while importing finished products made from the same resources.The call was made by the Minister of Solid Minerals Development, Dele Alake, at the Ministerial Forum on Critical Minerals, Value Chain and Beneficiation: Pathways for African Transformation, organised under the auspices of the African Development Bank in Abidjan, Côte d’Ivoire.Alake also called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar and modelled on the Lobito Corridor in Central and Southern Africa.This was contained in a statement issued on Sunday by the minister’s Special Assistant on Media, Lara Owoeye-Wise.The forum brought together more than 20 ministers responsible for mining, energy, industry, natural resources and the green economy, as well as representatives of development finance institutions, international banks and mining companies.Speaking at the forum, the minister urged African countries to move beyond isolated national approaches and develop a coordinated strategy for controlling, processing and deriving greater value from the continent’s mineral wealth.Alake, who is the pioneer chairman of the Africa Mineral Strategy Group, said Africa’s mineral resources could deliver far greater economic benefits if countries worked together to develop shared infrastructure, regional value chains and common standards.“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,” he said.The minister said African countries needed to achieve sovereignty not only over their mineral resources but also over the data and technical systems used to assess the value of those resources.He criticised the continent’s continued dependence on foreign reporting standards for mineral exploration and reserves, arguing that Africa must develop and adopt systems that reflect its own geological, environmental and economic realities.“For the overall interest of the continent, and to efficiently and effectively safeguard its resources, Africa should take charge of the coding mechanisms utilised to assess its mineral assets,” Alake said.He advocated the adoption of the Pan-African Resource Reporting Code, a framework established by the Africa Minerals Development Centre for the public reporting of mineral and energy resources.According to him, the system would promote transparency, consistency and ethical competence in the certification of mineral resources while taking into account the peculiar geological and environmental characteristics of African countries.He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. The call was made by the Minister of Solid Minerals Development, Dele Alake, at the Ministerial Forum on Critical Minerals, Value Chain and Beneficiation: Pathways for African Transformation, organised under the auspices of the African Development Bank in Abidjan, Côte d’Ivoire.Alake also called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar and modelled on the Lobito Corridor in Central and Southern Africa.This was contained in a statement issued on Sunday by the minister’s Special Assistant on Media, Lara Owoeye-Wise.The forum brought together more than 20 ministers responsible for mining, energy, industry, natural resources and the green economy, as well as representatives of development finance institutions, international banks and mining companies.Speaking at the forum, the minister urged African countries to move beyond isolated national approaches and develop a coordinated strategy for controlling, processing and deriving greater value from the continent’s mineral wealth.Alake, who is the pioneer chairman of the Africa Mineral Strategy Group, said Africa’s mineral resources could deliver far greater economic benefits if countries worked together to develop shared infrastructure, regional value chains and common standards.“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,” he said.The minister said African countries needed to achieve sovereignty not only over their mineral resources but also over the data and technical systems used to assess the value of those resources.He criticised the continent’s continued dependence on foreign reporting standards for mineral exploration and reserves, arguing that Africa must develop and adopt systems that reflect its own geological, environmental and economic realities.“For the overall interest of the continent, and to efficiently and effectively safeguard its resources, Africa should take charge of the coding mechanisms utilised to assess its mineral assets,” Alake said.He advocated the adoption of the Pan-African Resource Reporting Code, a framework established by the Africa Minerals Development Centre for the public reporting of mineral and energy resources.According to him, the system would promote transparency, consistency and ethical competence in the certification of mineral resources while taking into account the peculiar geological and environmental characteristics of African countries.He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. Alake also called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar and modelled on the Lobito Corridor in Central and Southern Africa.This was contained in a statement issued on Sunday by the minister’s Special Assistant on Media, Lara Owoeye-Wise.The forum brought together more than 20 ministers responsible for mining, energy, industry, natural resources and the green economy, as well as representatives of development finance institutions, international banks and mining companies.Speaking at the forum, the minister urged African countries to move beyond isolated national approaches and develop a coordinated strategy for controlling, processing and deriving greater value from the continent’s mineral wealth.Alake, who is the pioneer chairman of the Africa Mineral Strategy Group, said Africa’s mineral resources could deliver far greater economic benefits if countries worked together to develop shared infrastructure, regional value chains and common standards.“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,” he said.The minister said African countries needed to achieve sovereignty not only over their mineral resources but also over the data and technical systems used to assess the value of those resources.He criticised the continent’s continued dependence on foreign reporting standards for mineral exploration and reserves, arguing that Africa must develop and adopt systems that reflect its own geological, environmental and economic realities.“For the overall interest of the continent, and to efficiently and effectively safeguard its resources, Africa should take charge of the coding mechanisms utilised to assess its mineral assets,” Alake said.He advocated the adoption of the Pan-African Resource Reporting Code, a framework established by the Africa Minerals Development Centre for the public reporting of mineral and energy resources.According to him, the system would promote transparency, consistency and ethical competence in the certification of mineral resources while taking into account the peculiar geological and environmental characteristics of African countries.He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. This was contained in a statement issued on Sunday by the minister’s Special Assistant on Media, Lara Owoeye-Wise.The forum brought together more than 20 ministers responsible for mining, energy, industry, natural resources and the green economy, as well as representatives of development finance institutions, international banks and mining companies.Speaking at the forum, the minister urged African countries to move beyond isolated national approaches and develop a coordinated strategy for controlling, processing and deriving greater value from the continent’s mineral wealth.Alake, who is the pioneer chairman of the Africa Mineral Strategy Group, said Africa’s mineral resources could deliver far greater economic benefits if countries worked together to develop shared infrastructure, regional value chains and common standards.“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,” he said.The minister said African countries needed to achieve sovereignty not only over their mineral resources but also over the data and technical systems used to assess the value of those resources.He criticised the continent’s continued dependence on foreign reporting standards for mineral exploration and reserves, arguing that Africa must develop and adopt systems that reflect its own geological, environmental and economic realities.“For the overall interest of the continent, and to efficiently and effectively safeguard its resources, Africa should take charge of the coding mechanisms utilised to assess its mineral assets,” Alake said.He advocated the adoption of the Pan-African Resource Reporting Code, a framework established by the Africa Minerals Development Centre for the public reporting of mineral and energy resources.According to him, the system would promote transparency, consistency and ethical competence in the certification of mineral resources while taking into account the peculiar geological and environmental characteristics of African countries.He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. The forum brought together more than 20 ministers responsible for mining, energy, industry, natural resources and the green economy, as well as representatives of development finance institutions, international banks and mining companies.Speaking at the forum, the minister urged African countries to move beyond isolated national approaches and develop a coordinated strategy for controlling, processing and deriving greater value from the continent’s mineral wealth.Alake, who is the pioneer chairman of the Africa Mineral Strategy Group, said Africa’s mineral resources could deliver far greater economic benefits if countries worked together to develop shared infrastructure, regional value chains and common standards.“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,” he said.The minister said African countries needed to achieve sovereignty not only over their mineral resources but also over the data and technical systems used to assess the value of those resources.He criticised the continent’s continued dependence on foreign reporting standards for mineral exploration and reserves, arguing that Africa must develop and adopt systems that reflect its own geological, environmental and economic realities.“For the overall interest of the continent, and to efficiently and effectively safeguard its resources, Africa should take charge of the coding mechanisms utilised to assess its mineral assets,” Alake said.He advocated the adoption of the Pan-African Resource Reporting Code, a framework established by the Africa Minerals Development Centre for the public reporting of mineral and energy resources.According to him, the system would promote transparency, consistency and ethical competence in the certification of mineral resources while taking into account the peculiar geological and environmental characteristics of African countries.He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. Speaking at the forum, the minister urged African countries to move beyond isolated national approaches and develop a coordinated strategy for controlling, processing and deriving greater value from the continent’s mineral wealth.Alake, who is the pioneer chairman of the Africa Mineral Strategy Group, said Africa’s mineral resources could deliver far greater economic benefits if countries worked together to develop shared infrastructure, regional value chains and common standards.“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,” he said.The minister said African countries needed to achieve sovereignty not only over their mineral resources but also over the data and technical systems used to assess the value of those resources.He criticised the continent’s continued dependence on foreign reporting standards for mineral exploration and reserves, arguing that Africa must develop and adopt systems that reflect its own geological, environmental and economic realities.“For the overall interest of the continent, and to efficiently and effectively safeguard its resources, Africa should take charge of the coding mechanisms utilised to assess its mineral assets,” Alake said.He advocated the adoption of the Pan-African Resource Reporting Code, a framework established by the Africa Minerals Development Centre for the public reporting of mineral and energy resources.According to him, the system would promote transparency, consistency and ethical competence in the certification of mineral resources while taking into account the peculiar geological and environmental characteristics of African countries.He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. Alake, who is the pioneer chairman of the Africa Mineral Strategy Group, said Africa’s mineral resources could deliver far greater economic benefits if countries worked together to develop shared infrastructure, regional value chains and common standards.“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,” he said.The minister said African countries needed to achieve sovereignty not only over their mineral resources but also over the data and technical systems used to assess the value of those resources.He criticised the continent’s continued dependence on foreign reporting standards for mineral exploration and reserves, arguing that Africa must develop and adopt systems that reflect its own geological, environmental and economic realities.“For the overall interest of the continent, and to efficiently and effectively safeguard its resources, Africa should take charge of the coding mechanisms utilised to assess its mineral assets,” Alake said.He advocated the adoption of the Pan-African Resource Reporting Code, a framework established by the Africa Minerals Development Centre for the public reporting of mineral and energy resources.According to him, the system would promote transparency, consistency and ethical competence in the certification of mineral resources while taking into account the peculiar geological and environmental characteristics of African countries.He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. “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,” he said.The minister said African countries needed to achieve sovereignty not only over their mineral resources but also over the data and technical systems used to assess the value of those resources.He criticised the continent’s continued dependence on foreign reporting standards for mineral exploration and reserves, arguing that Africa must develop and adopt systems that reflect its own geological, environmental and economic realities.“For the overall interest of the continent, and to efficiently and effectively safeguard its resources, Africa should take charge of the coding mechanisms utilised to assess its mineral assets,” Alake said.He advocated the adoption of the Pan-African Resource Reporting Code, a framework established by the Africa Minerals Development Centre for the public reporting of mineral and energy resources.According to him, the system would promote transparency, consistency and ethical competence in the certification of mineral resources while taking into account the peculiar geological and environmental characteristics of African countries.He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. The minister said African countries needed to achieve sovereignty not only over their mineral resources but also over the data and technical systems used to assess the value of those resources.He criticised the continent’s continued dependence on foreign reporting standards for mineral exploration and reserves, arguing that Africa must develop and adopt systems that reflect its own geological, environmental and economic realities.“For the overall interest of the continent, and to efficiently and effectively safeguard its resources, Africa should take charge of the coding mechanisms utilised to assess its mineral assets,” Alake said.He advocated the adoption of the Pan-African Resource Reporting Code, a framework established by the Africa Minerals Development Centre for the public reporting of mineral and energy resources.According to him, the system would promote transparency, consistency and ethical competence in the certification of mineral resources while taking into account the peculiar geological and environmental characteristics of African countries.He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. He criticised the continent’s continued dependence on foreign reporting standards for mineral exploration and reserves, arguing that Africa must develop and adopt systems that reflect its own geological, environmental and economic realities.“For the overall interest of the continent, and to efficiently and effectively safeguard its resources, Africa should take charge of the coding mechanisms utilised to assess its mineral assets,” Alake said.He advocated the adoption of the Pan-African Resource Reporting Code, a framework established by the Africa Minerals Development Centre for the public reporting of mineral and energy resources.According to him, the system would promote transparency, consistency and ethical competence in the certification of mineral resources while taking into account the peculiar geological and environmental characteristics of African countries.He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. “For the overall interest of the continent, and to efficiently and effectively safeguard its resources, Africa should take charge of the coding mechanisms utilised to assess its mineral assets,” Alake said.He advocated the adoption of the Pan-African Resource Reporting Code, a framework established by the Africa Minerals Development Centre for the public reporting of mineral and energy resources.According to him, the system would promote transparency, consistency and ethical competence in the certification of mineral resources while taking into account the peculiar geological and environmental characteristics of African countries.He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. He advocated the adoption of the Pan-African Resource Reporting Code, a framework established by the Africa Minerals Development Centre for the public reporting of mineral and energy resources.According to him, the system would promote transparency, consistency and ethical competence in the certification of mineral resources while taking into account the peculiar geological and environmental characteristics of African countries.He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. According to him, the system would promote transparency, consistency and ethical competence in the certification of mineral resources while taking into account the peculiar geological and environmental characteristics of African countries.He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. He further called for the establishment of a West African minerals processing corridor stretching from Lagos to Dakar, modelled on the Lobito Corridor in Central and Southern Africa.He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. He said the corridor would enable countries in the region to specialise in processing particular minerals while sharing infrastructure, investment risks and the benefits of mineral development.Related NewsMining Marshals reject Kogi Rep’s claims, petition SpeakerSenate seeks tougher mining safety rules after Kogi landslide kills 20Execution now Africa’s biggest infrastructure challenge, experts sayThe proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. The proposed arrangement, he said, would reduce the enormous financial burden of developing separate processing facilities in every country and promote cross-border trade and industrial cooperation.The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. The minister said African countries needed to replace competition among themselves with strategic interdependence.He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. He noted that the continent’s mineral resources were distributed across different countries, making regional cooperation essential to building commercially viable value chains.The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. The proposed Lagos-Dakar corridor is also in line with Nigeria’s broader ambition to position itself as a regional hub for mineral processing, industrial development and value addition.The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. The minister further drew attention to the low level of intra-African trade, saying the continent could not fully industrialise while its countries continued to trade more with external markets than with one another.He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. He noted that intra-African trade accounted for only about 16 per cent, compared with approximately 60 per cent among Asian countries and 70 per cent among European countries.Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. Earlier, the President of the African Development Bank, Sidi Ould Tah, highlighted what he described as the contradictions surrounding Africa’s mineral wealth.The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. The AfDB president also pointed to the contradiction between abundant investment opportunities and inadequate financing, reflected in the relatively low levels of foreign direct investment flowing into the continent.Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. Both the AfDB and the Nigerian government agreed that Africa must move beyond the traditional extraction and export of raw minerals.They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. They said the continent needed to build processing capacity, develop local industries and create jobs around its mineral resources.The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. The forum subsequently adopted the Abidjan Declaration, which placed financing at the centre of efforts to transform Africa’s solid minerals sector.Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. Under the declaration, the AfDB pledged to deploy its financial instruments, capital structuring and mobilisation capacity, as well as its technical expertise, to support mineral-producing countries and attract public and private investment into the sector.The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. The bank also committed to helping reduce the risks associated with strategic mining projects, financing critical infrastructure, supporting the development of bankable projects and accelerating the creation of competitive, inclusive and sustainable critical mineral value chains.The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment. The declaration further urged mineral-producing countries to develop national and regional capacities capable of creating opportunities for project financing and generating sustainable local value and employment.