Categories: News

Alake: U.S. tariffs may be a blessing for Africa

The Minister of Solid Minerals Development, Dele Alake, says the tariffs imposed by the United States may be a blessing in disguise for African countries.

Alake said this during the Fireside Chat session on Foreign Direct Investment in Abu Dhabi, United Arab Emirates (UAE).

A statement issued by the minister’s Special Assistant on Media, Segun Tomori, on Sunday, April 13, 2025, quoted Alake as making the remarks as part of his contribution to the discourse on the impact of the tariffs on Africa’s economic climate.

United States President Donald Trump recently announced new tariffs on nearly all U.S. trading partners.

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 said.

Alake called on African countries to adopt an introspective approach by looking inward and adjusting their domestic policies to focus more on intra-African trade, with less dependence on external forces.

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The minister stressed the need for African countries to organise economic imperatives to ensure a balance of trade and strengthen intra African trade among countries.

He highlighted the persistent challenge faced by African countries, where rare mineral resources were exported without any value addition.

Alake added: “The old ‘pit-to-port’ model, where resources are extracted and sent out of the continent can no longer be allowed to continue.

“Interested investors, who wish to come into Africa are welcome to set up their factories in the continent, add value to our mineral resources and create jobs here, rather than just shipping our wealth out of our shores.”

Alake also reaffirmed that Nigeria’s policy on mineral sector development remained strictly focused on value addition and boosting the local economy through job creation.

The Star