U.S. Tariffs a ‘Blessing in Disguise’ for Africa – Minister Dele Alake Tells Global Investors in Abu Dhabi
Thank you for reading this post, don't forget to subscribe!Abuja, April 13, 2025 – Naija247news – Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, has described the rising wave of tariff impositions by the United States as a potential catalyst for African economic transformation, urging African nations to look inward and reduce dependency on external trade partners.
Speaking during a Fireside Chat on Foreign Direct Investment (FDI) at the 14th Annual Investment Meeting (AIM) Congress in Abu Dhabi, United Arab Emirates, Alake said the development could compel Africa to strengthen intra-African trade and build value-added industries.
“The barrage of tariffs imposed carries wide-ranging implications for the global economy, U.S. trade relationships, and developing nations, including those in Africa,” Alake noted.
His remarks were made under the session titled ‘The Alchemy of Foreign Direct Investment: Turning Policies into Prosperity for Emerging Global Markets’, according to a statement released by Segun Tomori, his Special Assistant on Media.
The minister urged African countries to abandon the “pit-to-port” model of resource extraction, where raw minerals are exported without value addition, leaving the continent with minimal economic benefit.
“Interested investors who wish to come into Africa are welcome, but they must be ready to add value to our mineral resources and create jobs on the continent,” Alake stated.
He emphasized that Nigeria’s mineral development policy now prioritizes value addition, job creation, and local industrial growth, aligning with the broader continental vision. Alake, who chairs the African Minerals Strategic Group (AMSG), said several mineral-producing countries have begun to adopt his policy stance.
Alake’s comments come amid global economic disruptions following renewed tariff regimes under U.S. President Donald Trump, sparking anxiety among trade-dependent nations.
The AIM Congress, held from April 7 to 9, brought together investors, policymakers, and business leaders to discuss trends in sustainable investment, digital economies, and global finance under the theme:
‘Mapping the Future of Global Investment: The New Wave of a Globalised Investment Landscape – Towards a New Balanced World Structure.’
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