Business

President Tinubu Urges Africa to Stop Exporting Raw Minerals

The dialogue, themed, “From Resources to Wealth: Continental Cooperation for Mineral Value Addition, Data Sovereignty, Innovative Financing and Critical Minerals Security,” focused on transforming Africa’s mineral wealth into sustainable economic growth.

Published

2 months ago

September 22, 2026

OCHEFA

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Photo: The President was represented by Vice President Kashim Shettima, alongside AMSG Chairman and Minister of Solid Minerals Development, Dr Dele Alake.

President Bola Tinubu has called for a fresh continental push to end the historical exploitation of Africa’s critical mineral resources, urging African nations to unite and halt the export of raw materials.

President Tinubu made the call in New York, United States, during the Africa Minerals Strategy Group (AMSG) High-Level Roundtable on Critical Minerals Development in Africa, held on the sidelines of the 81st Session of the United Nations General Assembly (UNGA).

He called for an aggressive alliance among African countries to ensure that the continent transitions from a mere supplier of raw minerals to a hub for local processing, manufacturing and value addition.

The President was represented by Vice President Kashim Shettima, alongside AMSG Chairman and Minister of Solid Minerals Development, Dr Dele Alake.

President Tinubu told African leaders and other stakeholders that “the continent could not claim to be wealthy while its children wallowed in poverty amid mines that enrich the world.”

He noted that critical minerals such as cobalt, copper, lithium and rare earth elements had become indispensable to global supply chains and economic security.

According to him, the answer to the deprivation “must be processing, refining, batteries, components, African technologies and competitive skills”.

Related Topics:81st UN General Assembly New York

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Business

Naira Exchange Rates Thursday, 5 Nov 2026

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1 day ago

November 5, 2026

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BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

2 days ago

November 4, 2026

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The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.