How US Tariffs can boost Intra-African Trade-Alake

The wave of tariffs rolled out by the United States may prove to be a silver lining for African economies, according to Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake.

Speaking at a high-level Fireside Chat on Foreign Direct Investment titled “The Alchemy of Foreign Direct Investment – Turning Policies into Prosperity for Emerging Global Markets” during the 14th Annual Investment Meeting (AIM) Congress in Abu Dhabi, Dr. Alake urged African nations to seize the moment and pivot toward stronger intra-African trade.

“In light of shifting global dynamics, we must reorient our economic priorities to reduce dependency on external forces and enhance trade within the continent. The time is now,” he said.

In a statement released by his Special Assistant on Media, Segun Tomori, the Minister emphasized that the long-standing practice of exporting Africa’s rare mineral resources without adding value locally must come to an end.

“Investors who are truly interested in Africa must be ready to invest on the continent by setting up factories here, processing our minerals locally, and creating jobs for our people. Exporting raw wealth without value addition is no longer acceptable,” Dr. Alake said.

His stance on safeguarding Africa’s mineral wealth has gained widespread support across the continent, especially among mineral-rich nations. Dr. Alake currently chairs the newly formed African Minerals Strategy Group (AMSG), which aims to align the continent’s mining policies for greater economic impact.

He also highlighted Nigeria’s firm commitment to value addition in the solid minerals sector, noting that government policy is focused on boosting the local economy through job creation and sustainable development.

During the AIM Congress, Dr. Alake toured the exhibition area, where Nigeria was well represented by the Solid Minerals Development Ministry, the Solid Minerals Development Fund (SMDF), the Zamfara State Government, and private sector players including the Women Enterprise Alliance and Ghana’s Jant’s Fashion Collection.

Other speakers at the session included H.E. Zaher Al Qatarneh, Secretary General of Jordan’s Ministry of Investment; Goncalo Terenas, Co-founder of Diaspora Prime Portugal; and Vadim Tretyakov, Minister of Investment and Development for Russia’s Sverdlovsk Region.

The AIM Congress, held at the Abu Dhabi National Exhibition Centre, drew thousands of top government officials, corporate leaders, tech innovators, and financial experts from across the globe. The event’s theme this year was “Mapping the Future of Global Investment: The New Wave of a Globalized Investment Landscape – Towards a New Balanced World Structure.”