Africa’s Resource Wealth Takes Centre Stage
Anietie Udobit, Abuja
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At the latest G7 Summit, global leaders turned significant attention toward critical minerals—resources increasingly viewed as the foundation of the future global economy.
With electric vehicles, renewable energy systems, and artificial intelligence technologies driving demand, nations are racing to secure access to lithium, cobalt, nickel, rare earth elements, and other strategic minerals.
For Africa, this represents both an opportunity and a challenge.
The continent possesses some of the world’s richest deposits of these resources, yet concerns persist that African countries may once again become suppliers of raw materials without benefiting from value-added manufacturing.
Discussions at the summit also reflected concerns over China’s growing influence across global supply chains and efforts by Western economies to diversify sourcing strategies.
For countries like Nigeria, the conversation underscores the need to develop processing industries that can transform mineral wealth into jobs, industrialization, and long-term economic growth.