The Federal Government has called for the creation of a Lagos-Dakar minerals processing corridor as part of efforts to strengthen regional cooperation and unlock greater value from Africa’s vast mineral resources.
The proposal was presented by the Minister of Solid Minerals Development, Dele Alake, during the Ministerial Forum on Critical Minerals, Value Chain and Beneficiation: Pathways for African Transformation, organised by the African Development Bank (AfDB) in Abidjan, Côte d’Ivoire.
Alake stressed that Africa must move beyond exporting raw minerals while importing finished products derived from the same resources, urging the continent to take greater control of its mineral wealth through coordinated policies and regional partnerships.
He proposed that the Lagos-Dakar corridor should be modelled after the Lobito Corridor in Central and Southern Africa, allowing West African countries to share infrastructure, attract investment and specialise in processing different mineral resources.
According to the minister, stronger regional cooperation would help African nations maximise the economic benefits of their natural resources by developing integrated value chains instead of operating in isolation.
Alake, who serves as the pioneer Chairman of the Africa Mineral Strategy Group, said achieving true economic independence requires African countries to not only process their minerals locally but also take ownership of the systems used to evaluate and certify mineral assets.
He criticised the continent’s continued reliance on foreign reporting standards for mineral exploration and reserves, advocating the adoption of the Pan-African Resource Reporting Code developed by the Africa Minerals Development Centre.
He explained that the framework would promote transparency, consistency and ethical reporting while reflecting Africa’s unique geological and environmental realities.
The minister also noted that regional cooperation was essential because mineral deposits are spread across different countries, making shared infrastructure and coordinated investment more practical than individual national projects.
He further expressed concern over the low level of trade among African countries, noting that intra-African trade remains around 16 percent, far below the levels recorded in Asia and Europe. Also speaking at the forum, African Development Bank President, Dr. Sidi Ould Tah, highlighted the contradiction between Africa’s abundant mineral resources and the limited investment flowing into the sector.
Both the Nigerian government and the AfDB agreed that Africa must prioritise local mineral processing, industrial development and job creation rather than continuing the long-standing practice of exporting raw materials. The forum concluded with the adoption of the Abidjan Declaration, which places financing at the centre of efforts to transform Africa’s solid minerals sector.
Under the declaration, the African Development Bank pledged to provide financial support, technical expertise and investment mobilisation to help mineral-producing countries develop critical infrastructure, finance viable mining projects and build competitive, sustainable mineral value chains across the continent.
