Turn Africa's Mineral Wealth into Industrial Growth, Jobs, Shettima tells African Countries

Vice-President Kashim Shettima has urged African countries to stop exporting Africa’s mineral wealth and turn it into jobs and industrial growth.

Shettima also said Africa must strengthen cooperation, process more of its minerals locally and build industries around resources increasingly critical to the global economy.

He spoke at the Third High-Level Roundtable of the Africa Minerals Strategy Group (AMSG), held on the sidelines of the 81st UN General Assembly in New York.

The roundtable, themed “From Resources to Wealth: Continental Cooperation for Mineral Value Addition,” brought together governments, investors and mining-industry stakeholders.

Shettima said the real value of Africa’s enormous mineral endowment should ultimately be measured by its impact on ordinary Africans.

He challenged countries to move away from an economic model in which raw resources leave Africa while finished products return at significantly greater value.

According to him, greater continental cooperation on mineral governance would enable Africa to strengthen its negotiating power and capture more value from global supply chains.

The Vice-President urged the strategy group members to develop bankable projects capable of attracting investment into processing, manufacturing and other value-adding activities.

He said such projects should create employment, stimulate industrialisation and ensure mineral-producing communities receive tangible benefits from resources extracted from their environments.

Nigeria’s Minister of Solid Minerals Development and AMSG Chairman, Dele Alake, called for urgent reforms to integrate artisanal miners into regulated mining systems.

Alake said governments should distinguish artisanal miners seeking legitimate livelihoods from illegal operators involved in criminal activity.

He argued that artisanal mining should be formalised and properly regulated rather than treated principally as criminal activity.

“Illegal mining must remain illegal, but artisanal miners should have a structured framework that allows them to operate legally and safely,” he said.

The minister said many artisanal miners were breadwinners whose families depended on mining for survival.

He expressed concern over recurring mine-site collapses across Africa, saying preventable deaths demonstrated the urgent need for stronger safety standards and regulatory oversight.

Alake said formalisation could provide miners with safer operating conditions, access to training, equipment, finance and government regulation.

He said it could also improve traceability of mineral production while reducing smuggling, environmental degradation and other activities associated with poorly regulated mining.

Kenya’s Cabinet Secretary for Mining, Blue Economy and Maritime Affairs, Hassan Ali Joho, called for greater sharing of geological and mineral data among African countries.

The AMSG comprises more than 30 African countries and seeks to give the continent a stronger collective voice on mineral governance, local processing and positioning within global supply chains.

The group has advocated harmonised mining policies, shared infrastructure, regional processing hubs and stronger geological data systems as tools for attracting investment and strengthening Africa’s bargaining position.

President Bola Tinubu chairs the AMSG General Assembly and has previously urged members to speak collectively and prevent Africa from remaining simply a source of raw materials for industrialised economies.

Representatives of Tanzania and Chad also made presentations at the event attended by Foreign Affairs Minister Bianca Odumegwu-Ojukwu and Permanent Representative of Nigeria to the UN, Jimoh Ibrahim.

Also present were Governor Babagana Zulum of Borno, that of Nasarawa, Abdullahi Sule, Kebbi Governor Nasir Idris and Governor Siminalayi Fubara of Rivers.

Credit NAN: Texts excluding Headline

Dangote, Obasanjo at UN Deputy Secretary General's Sent Forth...

President, Dangote Group, Aliko Dangote, Deputy Secretary General of United Nations, Amina Mohammed, Halima Aliko Dangote and Former President, Olusegun Obasanjo at a Sent Forth Party for the UN Scribe at the Africa Centre, Harlem,  New York.

Credit Dangote Group PR

Our Refinery's IPO reflects a long-term devotion to Africa’s Industrial, Economic Transformation - Dangote

President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has reaffirmed the Dangote Group’s unwavering commitment to Africa’s industrial transformation, wealth creation, and long-term economic development, stating that the ongoing Dangote Petroleum Refinery Initial Public Offering (IPO) represents a unique opportunity for Africans to participate directly in the continent’s most ambitious industrial project.

Speaking during an interview with Bloomberg Television, Dangote said the Dangote Refinery IPO is not merely a capital-raising exercise but part of a broader vision to democratise ownership of strategic African assets and create sustainable value for millions of investors across the continent.

According to him, the refinery's public offering gives ordinary Africans and institutional investors alike the opportunity to become shareholders in a world-class enterprise that is helping to redefine Africa’s energy future.

He noted that broadening ownership of the refinery is as important as expanding its operational capacity because it enables more Africans to participate in the wealth generated by the continent’s largest industrial investments.

"For decades, Africa's most strategic assets have been owned by a limited group of investors. Through this IPO, we are creating an opportunity for millions of Africans to become part-owners of a transformative business that is changing the energy landscape of the continent. It is about creating value, expanding prosperity, and building generational wealth for our people," said Dangote.

The foremost industrialist emphasised that the refinery was conceived as an African solution to Africa’s longstanding energy challenges and forms a critical part of the Dangote Group’s mission of reducing the continent’s dependence on imports while strengthening local production capabilities. He explained that the Group remains focused on building industries that support economic self-sufficiency, create jobs, stimulate foreign exchange earnings, and drive sustainable development across Africa.

Dangote disclosed that the company plans to further expand the refinery's capacity from its current 700,000 barrels per day to 1.4 million barrels per day over the coming years, positioning it among the largest refining complexes globally and significantly improving Africa’s ability to meet its own energy requirements. He added that proceeds from the ongoing IPO will support this ambitious expansion programme.

The billionaire entrepreneur also revealed that the Dangote Petroleum Refinery intends to seek a listing on the New York Stock Exchange after completing its next phase of expansion, a move designed to deepen access to international capital while showcasing Africa’s industrial potential to global investors.

Speaking on investor confidence, Dangote noted that the strong demand recorded during the refinery’s private placement demonstrated both domestic and international belief in the project’s future. He stressed that the Group deliberately limited the amount raised during the private placement to encourage broader ownership and participation by a wider cross-section of Africans.

"Our objective has always been bigger than building a refinery. We want to create institutions that will outlive us, businesses that can compete globally, and opportunities that allow Africans to share in the wealth created on the continent. This IPO is another step towards achieving that vision," he stated.

The Dangote Group President underscored that Africa possesses the resources, talent, and market potential required to compete with the world's leading economies, stressing that industrialisation remains the surest path to economic prosperity. He maintained that investments in sectors such as refining, petrochemicals, cement, fertiliser, and manufacturing would continue to drive the continent's economic renaissance.

The ongoing Dangote Petroleum Refinery IPO, described as the largest public share offering in Africa's history, has generated significant interest from investors, policymakers, market analysts, and development institutions who see the offering as a landmark moment for Nigeria's capital market and Africa's industrial growth story.

Credit Dangote Group PR