Shettima urges Africa to stop exporting raw materials

Vice President Kashim Shettima has called on African countries to assert greater control over their natural resources and global trade by ending the export of raw materials and focusing on local processing and manufacturing.

“

Africa could no longer afford to remain a supplier of raw materials to industries in other parts of the world while importing finished products made from its own resources.

During a tour of the Glo-Djigbé Industrial Zone in Cotonou, Benin Republic, Shettima inspected integrated cotton, textile, and agro-processing facilities. He stated that Africa can no longer afford to supply raw materials to industries elsewhere while importing finished goods derived from its own resources. The Vice President stressed the need for the continent to leverage its vast natural endowments by developing industries that transform raw materials into higher-value products, thereby creating jobs and expanding economic opportunities.

Shettima highlighted Nigeria's renewed industrialization drive, which aims to ensure no region is left behind. He mentioned that the Federal Government is collaborating with state governments to develop agro-industrial value chains. He expressed admiration for Benin's efforts in mass production and export of locally sourced resources, citing the Glo-Djigbé Industrial Zone as a prime example of how African nations can utilize agriculture to foster industrial growth.

“

We are here essentially at the behest of President Tinubu, in the spirit of his Renewed Hope Agenda, to see and peer-review global best practices.

Regretting that Africa accounts for only about one percent of the global cotton industry, valued at $370 billion, despite significant production potential, Shettima believes reviving Nigeria's textile value chain could generate millions of jobs, boost non-oil exports, and stimulate economic activity. He expressed satisfaction with the facilities producing cotton, textiles, cashew, and soya bean oil.

“

We are setting up eight agro-industrial zones in eight states in our country.

Shettima stated that the visit, undertaken at President Tinubu's behest and in line with his Renewed Hope Agenda, was to review global best practices. He indicated that Nigeria would draw practical lessons from Benin's experience in developing integrated value chains and plans to replicate these in Nigeria, where eight agro-industrial zones are being established.

“

Be rest assured that we have learnt a lot of lessons through this visit, and we are going to replicate a lot of that in Nigeria.