According to reporting in *The Punch*, Vice President Kashim Shettima has urged African countries to immediately cease the exportation of unprocessed natural resources and focus on building domestic manufacturing capabilities. Speaking at an economic summit, he highlighted that the continent loses billions of dollars annually by exporting raw agricultural produce and minerals only to re-import finished goods at exorbitant costs. Shettima stressed that regional trade integration and targeted investments in agro-processing will be crucial for insulating the continent’s economy from external global shocks.
The Vice President reiterated that Nigeria is positioned to lead this structural shift by implementing incentives for domestic processors and expanding industrial hubs across key geopolitical zones. He noted that moving up the value chain remains the most sustainable path toward job creation, poverty alleviation, and foreign exchange stability. According to the administration, recent infrastructure upgrades at major export portals are specifically tailored to boost processed cargo outputs rather than raw commodities.
Furthermore, government representatives emphasized that regional trade frameworks such as the African Continental Free Trade Area (AfCFTA) can only deliver real prosperity if member nations harmonize industrial policies. Federal agencies have been directed to streamline regulatory approvals for domestic manufacturers entering the export market.
Validation:
*The Guardian* covered the Vice President’s remarks, citing his assertion that “Africa cannot continue to serve as a mere supplier of raw materials to developed nations while our young population starves for industrial opportunities.” Additionally, *Vanguard* reported on the address, quoting Shettima directly when he stated, “Value addition is not just an economic strategy; it is a critical requirement for our national survival and economic sovereignty.”
Echotitbits take:
This push underlines Nigeria’s attempt to diversify its revenue streams away from crude oil and raw agricultural exports. While the policy direction is sound, success depends on overcoming structural bottlenecks, particularly reliable power supply and transport logistics. Watch for upcoming fiscal incentives and credit facilities targeted at domestic agro-processors in the national budget revisions.
Source: The Punch – https://punchng.com/africa-must-stop-exporting-raw-materials-add-value-locally-shettima/, July 25, 2026
Photo credit: The Guardian
