Nigeria pushes for Lagos-Dakar minerals corridor to boost African industry
The Federal Government and the African Development Bank are advocating for stronger African control over the continent’s mineral resources. Dele Alake, Minister of Solid Minerals Development, proposed the creation of a minerals processing corridor from Lagos to Dakar to enhance value addition and regional cooperation. The initiative aims to reduce reliance on exporting raw materials and foster local industries. Both parties emphasize the need for coordinated strategies and improved financing to transform Africa’s mineral sector.
TLDR
- Dele Alake called for a West African minerals processing corridor from Lagos to Dakar, inspired by the Lobito Corridor.
- The proposal was discussed at a ministerial forum organized by the African Development Bank in Abidjan, Côte d’Ivoire.
- The corridor would help countries specialize in processing specific minerals and share infrastructure and investment risks.
- The Abidjan Declaration was adopted, with the African Development Bank pledging financial and technical support for mineral-producing countries.
- The initiative seeks to promote intra-African trade, local industry development, and job creation around mineral resources.
