Business

Over 1,000 Delegates Storm Abuja for Maiden Africa Raw Materials Summit

Published

5 months ago

May 15, 2025

…As Nigeria Champions Africa’s Goal of 30% Value Addition on Raw Materials
By Joel Ajayi

In a strategic move to boost value addition across the continent’s natural resources, over 1,000 high-level delegates, experts, and investors from across Africa will converge in Abuja for the inaugural Africa Raw Materials Summit, where Nigeria will take the lead in championing a continental target of 30% value addition on raw materials.

The landmark two-day summit, themed “Shaping the Future of Africa’s Resource Landscape,” is scheduled to take place from May 20 to 22, 2025. It aims to position Nigeria as a catalyst in driving industrial transformation and economic diversification across Africa.

Speaking at a world press conference on Thursday in Abuja, the Director-General of the Raw Materials Research and Development Council (RMRDC), Prof. Nnanyelugo Ike-Muonso, emphasized that the summit is designed to address pressing challenges in the continent’s raw materials industries. These include value addition, industrial growth strategies, investment promotion, and sustainable regional collaboration to enhance Africa’s standing in the global raw materials market.

He noted that while Africa is richly endowed with natural resources, the continent continues to grapple with the inability to harness these assets for sustainable development.

“The summit will provide a vital platform for dialogue among policymakers, researchers, and industry leaders to develop actionable strategies for transforming Africa’s raw materials into high-value products that can compete globally,” Ike-Muonso said.

He described the summit as more than a high-level event, calling it “a continental call to action—a moment for Africa to rise and claim its rightful place as a global center for industrial innovation, value creation, and resource sovereignty.”

Highlighting Africa’s strategic advantage, he said, “Africa is abundantly endowed with over 30% of the world’s strategic raw materials—from agricultural commodities to critical minerals such as lithium, cobalt, graphite, and rare earth elements. Yet, paradoxically, our economies remain trapped at the bottom of global value chains due to our heavy reliance on exporting unprocessed raw materials.”

Calling the current economic model unsustainable, Ike-Muonso argued that it deprives African countries of jobs, foreign exchange, and industrial growth, while also stifling the continent’s potential for technological leadership.
“The time has come for a bold, coordinated shift from extraction to transformation, from exporting potential to industrializing value, and from economic vulnerability to continental resilience,” he declared.

Central to this transformation is the proposed 30 Percent Value Addition Mandate Bill, which the RMRDC has championed and which is currently under consideration at Nigeria’s National Assembly.

“This bill mandates that no less than 30% of all raw materials must be locally processed before export. It is not just a policy—it is strategic economic common sense and a form of national economic defence,” he said.

According to Ike-Muonso, the bill aims to curb capital flight, stimulate local processing industries, create sustainable jobs, enhance global competitiveness, and establish a strong, self-reliant African industrial base.

He explained that the summit will serve as the ideal platform for African stakeholders to deliberate on the initiative, adopt its core principles, and promote similar policies across the continent.

The summit, he said, has three key objectives: Mobilizing a continental consensus on the urgency of industrializing Africa’s resource base through innovation and value addition: Deepening alignment with the African Continental Free Trade Area (AfCFTA) and strengthening regional trade and industrial linkages and Forging actionable partnerships among governments, private sector players, researchers, and development financiers to drive sustainable transformation.

Over 1,000 confirmed participants are expected, including senior ministers and high-ranking officials from Ghana, South Africa, and several other countries, as well as key representatives from their ministries, departments, and agencies.
Key expected outcomes of the summit include:A Pan-African Declaration on Raw Materials Industrialization; Regional support for the 30% Value Addition Mandate and similar national initiatives; The launch of continental investment frameworks for beneficiation and industrial infrastructure.

He also assured that all necessary arrangements have been made to ensure the safety and success of the summit.

“All protocols and logistics have been activated and are being meticulously coordinated. The summit venue has been fully secured and prepared to meet the highest international standards. Every detail, from registration and accreditation to hospitality and technical support, has been carefully planned and is being professionally executed,” he concluded.

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Business

RMAFC Unveils New Data Rendition Template For Solid Minerals

Published

12 hours ago

October 8, 2025

The Gleamer

Joel Ajayi

The Revenue Mobilization Allocation and Fiscal Commission, in conjunction with the Federal Ministry of Solid Minerals Development, has introduced a new solid minerals data rendition template for effective monitoring of revenue from the solid mineral sector in Nigeria.

Speaking during a one day sensitisation exercise on the implementation of the new template on Tuesday in Abuja, Chairman of the Commission Dr. Muhammed Bello Shehu OFR who was represented by the Chairman of the Solid Minerals Monitoring Committee of RMAFC at the occassion reiterated the Commission’s commitment to promoting the diversification of the Nation’s revenue sources in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu GCFR, which aims to harness the country’s revenue potentials from other key sectors of the economy such as solid minerals, tourism, manufacturing and the blue economy.

The Chairman who underscored the importance of the new template said, “The implementation of the new data rendition template could not have come at a better time, given the current economic realities the country is facing.

The need to diversify our national revenue sources cannot be overemphasized, especially considering the nation’s over-dependence on hydrocarbon revenues, which are often affected by fluctuations in the international oil market, as well as challenges such as crude oil theft and vandalism.”

Dr. Shehu disclosed that, in line with its constitutional mandate as enshrined in the 1999 Constitution of the Federal Republic of Nigeria (as amended), the Commission had conducted two nationwide solid mineral revenue monitoring exercises in 2016 and 2022 aimed at boosting revenue generation from the mining sector. He added that the exercises had considerably improved the level of revenue generation from the sector.

He, however, lamented that despite the growing scale of activities in the country’s mining sector, only a negligible amount was being remitted to the Federation Account. This, according to him, was largely due to inadequate and ineffective monitoring of mining operations.

He therefore emphasized his determination to make sure that the Commission under his leadership work assiduously to ensure that all revenues due to the Federation Account from the mining sector were fully and promptly remitted into the Federation Account.

The new data rendition template, he explained, was designed to capture and manage relevant information such as the quantity of minerals produced, details of producing companies and their locations, as well as licenses, fees, and permits paid by mining companies.

The Chairman assured that the proper utilization of this data rendition template will enhance transparency and accountability by ensuring that mining operations and revenues are effectively tracked and managed.

In his remarks, Hon. Ibrahim Shettima, Chairman, Solid Minerals Monitoring Committee and Federal Commissioner representing Niger State in the Commission stated that the event was organized to bridge identified gaps to engender the timely and accurate rendition of revenue data on a state-by-state basis by relevant government agencies and operators in the solid minerals sector.

Speaking further, Hon. Shettima explained that the exercise aimed to establish an independent, reliable data platform for the Commission and serve as a credible source for comparison and policy decision-making.

Other stakeholders such as Director Mining Inspectorate, Federal Ministry of Solid Minerals,Engineer Imam Ganiu, D.G Mining Cadestre Office, Engr. Obadiah Nkom and the President of the Miners Association of Nigeria Mr. Segun Ayanleke acknowledged that Nigeria has the potential to be a key player in the global mining industry if the sector is efficiently and effectively managed. They, therefore, called for proper implementation of policies around the sector so as to achieve optimal results. They also advocate for stronger synergy between government and private stakeholders in the sector.

The high point of the event was the presentation of papers by resource persons on the general overview of the global and nigerian mining sectors, assessment of revenue contribution using data rendition, overview of the functions and activities of the Federal Ministry of Solid Minerals Development (FMSMD) as a major economic driver and the functions and activities of the Mining Cadastre Office (MCO).

Papers were also presented on the role and experience of the Miners Association of Nigeria and the new data rendition template as a requirement for accurate and Timely Data Reporting in the Solid Minerals Sector.

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