President Bola Ahmed Tinubu has called on African nations to end the longstanding practice of exporting raw materials and importing finished products, urging the continent to embrace value addition, industrialisation and regional cooperation to unlock sustainable economic growth.
Speaking at the opening of the 5th African Natural Resources and Energy Investment Summit (AFNIS 2026) held at the State House Conference Centre, Presidential Villa, Abuja, on Wednesday, Tinubu said Africa must leverage its vast natural resource wealth to create jobs, strengthen industries and secure prosperity for its people.
The President, who declared the summit open, said the continent could no longer afford to remain a supplier of raw materials while other regions reap the benefits of processing and manufacturing.
“For generations, our continent has been described by what lies beneath our soil: gold, gas, oil, lithium, cobalt, iron ore, copper, bauxite and rare earths. We have been called resource-rich, promising, strategic and indispensable. But the question before us today is whether Africa will finally turn its wealth into power,” he said.
Tinubu noted that the global economy is undergoing significant changes driven by energy transition, critical minerals, climate responsibility, technological innovation and competition for supply chains, placing Africa at the centre of future industrial development.
According to him, there can be no global energy transition without Africa, given the continent’s abundance of strategic minerals required for renewable energy technologies and modern manufacturing.
“That era must end. Africa must no longer export the future in raw form and import poverty in finished form. We must refine, process, manufacture, power our factories, train our engineers, build our own value chains and ensure that the wealth taken from African soil creates prosperity on African soil,” the President declared.
The summit, with the theme “One Africa, One Resource Vision,” brought together government officials, investors, development partners, industry leaders and policymakers from across the continent and beyond.
Tinubu said the theme reflected a shared commitment by African countries to pursue collective development rather than operating as fragmented markets and isolated resource producers.
He stressed that Africa’s prosperity would depend on stronger regional integration, urging governments to connect mineral resources, energy infrastructure and industrial capacity across borders.
“A mine in one African country should feed a refinery in another. A gas field in one region should power factories across borders. A solar corridor in one nation should support a continental grid,” he said.
The President further urged African governments to harmonise regulations, reduce barriers to intra-African trade, develop cross-border infrastructure and create a conducive environment for responsible investment.
Addressing investors, Tinubu said Africa remained open for business but would increasingly prioritise investments that create jobs, transfer technology and support local industrial development.
“We welcome capital that builds, not capital that merely takes. We welcome partnerships that create jobs, transfer technology, strengthen local capacity, protect communities and respect the environment,” he said.
The President also highlighted the importance of energy in driving industrialisation, noting that millions of Africans still lack access to reliable electricity.
He argued that Africa’s energy transition must be practical and equitable, balancing environmental responsibilities with the continent’s development needs.
“We accept the responsibility to protect the planet. But we also insist on the right to develop. Millions of Africans still need reliable electricity. Our factories need energy. Our farmers need storage and processing. Our hospitals need power. Our children need light to study,” he stated.
Tinubu said Nigeria would continue to pursue policies that expand energy access, support industrial growth, responsibly utilise gas resources and promote renewable energy development.
The President expressed confidence in Africa’s ability to transform its economic fortunes, urging leaders, investors and development partners to convert discussions at the summit into tangible projects and investments.
“Let the agreements reached here become projects. Let the projects become industries. Let the industries create jobs. Let the jobs create dignity. And let that dignity become the foundation of a new African century,” he said.
He added that Africa was no longer waiting to be defined by others but was ready to chart its own course through unity, innovation and strategic utilisation of its abundant natural resources.
The AFNIS summit is regarded as one of Africa’s leading platforms for discussions on natural resources, energy development, investment and industrial transformation. Delegates are expected to deliberate on strategies for value addition, energy security, critical minerals development and sustainable economic growth across the continent.
